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Netflix growth slows down
21 April 2017, 02:25 | Max Haynes
Netflix growth slows down
The one blemish in the first quarter for the Reed Hastings-led company was that is fell short of forecasts for subscribers growth - although the 4.95 million new subs left it just shy of the 100-million subscriber level.
The massive subscriber growth is a testament to how much the video streaming service has changed the entertainment landscape since its debut ten years ago.
"The company is likely to continue to experience quarter-to-quarter volatility, as both the pace of subscriber additions and the path to respectable profitability remains hard to determine", wrote Dougherty analyst Steven Frankel in a research note, maintaining his neutral rating.
In related news, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, April 18th. While we project net subscriber growth to slow, the current results were surprising in light of the strong 1.93 million total net adds in the U.S.in the previous quarter.
Netflix has expanded around the world over the last few years, betting that its USA formula would pay off in other countries. "We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV", he added. That proved to be a huge success for Netflix when they entered the global market and it looks like Amazon is right on their heels. All over the world, HBO has around 134 million subscribers and provides the internet-only option. "So it's a risky business".
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The Los Gatos, California firm presently has a market value of around $63 billion. Wall Street had expected 37 cents per share. In fact, free cash flow (FCF) for the company is predicted to hit a remarkable negative $2 billion as compared to 2016's negative FCF of $1.7 billion - a difference of around $300 million.
EMarketer estimates Netflix will have 128 million viewers in the United States this year, up 6.6% from last year. Global net additions were down from 5.1 million in the previous quarter to 3.5 million.
While new subscribers typically slow during the second quarter, Netflix has predicted 3.2 million additions worldwide for Q2 2017, nearly double the additions in Q2 2016.
Up to Monday's close, Netflix's stock had risen almost 19 percent in 2017, outperforming the roughly 5 percent gain in the broader S&P 500 index .SPX .
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