Netflix posts strong earnings and takes aim at traditional movie theaters

Just a few days after it announced its first quarter earnings, Netflix broke the news that it had reached 100 million subscribers. That gives it far and away the largest subscriber base of any global streaming service. But it’s still a touch behind HBO, which has just a few million streaming subscribers, but over 130 million total subscribers when you count its pay TV service.

All those paying customers have boosted Netflix revenue to new heights. Today the company announced it made $2.785 billion in revenue for the second quarter of 2017. And it turned a tidy profit, reporting $66 million in net income, up about 50 percent from the same period last year.

The most important number for investors, of course, was subscriber growth. There

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Source:: The Verge – Culture Posts

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