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Netflix says it now has 104 million subscribers worldwide

Netflix shares surged on Monday after the firm said it now has about 104 million subscribers, a larger-than-expected number that boosted its revenues.

The firm reported $2.8bn in quarterly revenue, up more than 32% from the same period in 2016.

It said it expects revenue to reach nearly $3bn in the third quarter.

The firm’s share price jumped more than 8% in after-hours trading.

Netflix said it had quarterly profits of $65.6m, up about 60%.

The company added about 5.2 million members during the quarter, most from overseas.

International members now account for about half of Netflix subscribers, the firm said.

The firm also said it expects international members to help boost profits for the year – a first for that part of the business.

Source: business

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