Netflix adds 9.6 million subscribers in Q1 2019

The streaming giant reported $4.52 billion in revenue

netflix

Netflix has released its earnings letter for the first quarter of 2019. The company has added 9.6 million paying subscribers, up 16 percent year-over-year, according to media reports.

Netflix now has 148.9 million paid streaming memberships.

On the financial side, the streaming giant reported $4.52 billion in revenue, up 22% year-on-year from $3.7 billion a year earlier.

Earnings per share was 76 cents, up from 64 cents in Q1 2018.

In a letter to shareholders, Netflix reportedly stated, “the response in the US so far is as we expected and is tracking similarly to what we saw in Canada following our Q4’18 increase, where our gross additions are unaffected, and we see some modest short-term churn effect as members consent to the price change.”

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