Netflix nears a $150B market cap as its subscribers continue to balloon
Netflix nears a $150B market cap as its subscribers continue to balloon. Just last quarter Netflix passed a $100B market cap — and we might already be talking about it as a $150B company before too long with yet another big financial quarter that sent its stock soaring.
Netflix, again, beat out some expectations Wall Street held for the first quarter and provided a pretty good outlook for the next quarter as well, where it said it expected to add around 6.2M new subscribers. In the first quarter, Netflix added 7.41M new subscribers — around 2M of them domestic and the rest internationally. The company continued to see some pretty strong streaming revenue growth, which was up around 43% y/y in the Q1 this year, to around $3.6B. Read more here.