12 de agosto de 2020
English - News

Netflix earns 166 pct. more in 2nd quarter, broadens subscriber base

 Netflix increased its 15.8-million subscriber base by 10.1 million in the first quarter of 2020, the firm announced on July 16, 2020.  EFE/EPA/SEDAT SUNA/File

Netflix increased its 15.8-million subscriber base by 10.1 million in the first quarter of 2020, the firm announced on July 16, 2020. EFE/EPA/SEDAT SUNA/File

New York, Jul 16 (efe-epa).- Netflix on Thursday announced profits of $720 million between March and June, 166 percent more than the $270 million the firm made during the same period last year, adding that it expanded its worldwide subscriber base by 10.1 million, continuing the huge ballooning of its customer rolls during the coronavirus pandemic and the associated lockdowns and quarantines.

In the second quarter of the firm's fiscal year, the Los Gatos, California-based company took in earnings of more than $6.148 billion, 6 percent more than the $4.923 billion it charged during the same quarter in 2019, and its shareholders pocketed $1.63 per share, up from the $0.62 the firm handed out a year ago.

The 10.1 million subscriber increase further bolsters the firm's 15.8 million registered users it registered in the first quarter of 2020, the largest influx of new customers in company history, doubling analysts' expectations for that period.

The figure means that in the first six months of this year, the streaming service has accumulated almost 26 million new subscribers, compared to the 28 million it attracted during all of 2019, a clear sign of the benefits the company has enjoyed amid the coronavirus pandemic.

Gross profits for the firm before interest and taxes were $2.015 billion during the past three months, compared with $500 million between March and June 2019.

However, so far this year, Netflix has not managed to reduce its long-term debt, which stands at $15.2 million, compared to the $12.5 million it registered during the same period last year.

The firm projected an increase of 2.5 million paying subscribers during the upcoming three months, much below the 5.27 million analysts have been expecting, while third quarter earnings are expected to total $6.3 billion with operating income of $1.25 billion, net income of $954 million and earnings of $2.09 per share.

The Netflix results did not convince investors of the firm's prospects and were counted as a "miss," with shares falling about 10 percent in after hours electronic trading on the New York markets, given that the company did not meet analysts' expectations for $1.81 in per-share profits or the widely anticipated subscriber forecasts.


Histórico de noticias
Raptors down Grizzlies, Thunder over Wizards, Spurs jump Pelicans in NBA action

Lake Buena Vista, Florida, Aug 9 (efe-epa).- Basket-scoring power forward Pascal Siakam, from Cameroon, and Congolese-Spaniard Serge Ibaka's strength in the...

US surpasses 5 mn Covid-19 cases, with 19.4 mn worldwide

Washington/Geneva, Aug 9 (efe-epa).- The United States, the country with the largest number of coronavirus cases and the world's highest death toll from...

Ex-Colombian President Uribe tests positive for Covid-19

Bogota, Aug 5 (efe-epa).- Former Colombian President Alvaro Uribe, who governed from 2002-2010, reportedly tested positive for Covid-19 just hours after the...

Samsung updates Note, Fold in sales freefall due to pandemic

San Francisco, Aug 5 (efe-epa).- South Korean multinational Samsung on Wednesday unveiled updated models of its high-end mobile phones Note and the foldable...

US, China digging in on Internet regarding TikTok

By Jairo Mejia/Javier Garcia

Key indigenous leader in Brazil's Amazon dies from Covid-19

Brasilia, Aug 5 (efe-epa).- Chief Aritana Yawalapiti, a well-known indigenous leader in Brazil's Amazon region, died Wednesday at age 69 from Covid-19, the...

From plot vs. China to Colombian virus, Venezuela's COVID tales abound

By Gonzalo Dominguez Loeda

Colombian high court orders house arrest for ex-President Uribe

Bogota, Aug 4 (efe-epa).- Colombia's Supreme Court on Tuesday ordered house arrest for former President and Sen. Alvaro Uribe amid judicial proceedings...

Hurricane Isaias lashes US east coast, killing at least 1

Washington, Aug 4 (efe-epa).- Tropical Storm Isaias, which made landfall as a Category 1 hurricane Monday night in North Carolina, is continuing its...

With virtual hugs and vigils, El Paso remembers victims of Walmart massacre

El Paso, Texas, Aug 3 (efe-epa).- National leaders and organizations on Monday once again remembered the 23 people killed in the mass shooting a year ago at...

Trump gives ultimatum to TikTok: Agree to be sold to US firm or be banned

Washington, Aug 3 (efe-epa).- President Donald Trump on Monday gave popular Chinese video-sharing app TikTok until Sept. 15 to allow itself to be purchased...

The explosive secret underlying Galapagos Islands' volcanoes

By Kevin Hidalgo

US in "new phase" of virus pandemic with infections in urban, rural areas

Washington, Aug 2 (efe-epa).- The United States is facing a "new phase" in the coronavirus pandemic, which is accelerating its spread in both urban and...

Dragon Endeavour space capsule returns 2 astronauts to Earth from ISS

Miami, Aug 2 (efe-epa).- SpaceX's Dragon Endeavour space capsule, carrying two NASA astronauts - Robert Behnken and Douglas Hurley - made a controlled...

Mnuchin: Trump could force sale or block TikTok in US

Washington, Aug 2 (efe-epa).- Treasury Secretary Steven Mnuchin said Sunday that President Donald Trump could force the sale of - or block - popular Chinese...

Isaias slows as it approaches Florida's Atlantic coast

Miami, Aug 2 (efe-epa).- Tropical Storm Isaias slowed as it approached Florida's Atlantic coast, where authorities are not ruling out that it could make...

Hollywood pays tribute to Olivia de Havilland

By Javier Romualdo

Tropical Storm Hanna causes flooding in NE Mexico

Mexico City, Jul 26 (efe-epa).- Tropical Storm Hanna was downgraded Sunday afternoon to a tropical depression, although it is still causing flooding in...

Night of violent protests, riots in Portland, Seattle

By Alfonso Fernandez

Beloved TV talk and game show host Regis Philbin dies

New York, Jul 25 (efe-epa).- Iconic and widely popular US television talk and game show host Regis Philbin has died of natural causes, his family told...

Hanna touches land in Texas, Gonzalo drops in strength to tropical depression

Miami, Jul 25 (efe-epa).- Hanna, the first hurricane of the Atlantic hurricane season, strengthened on Saturday and made landfall on Padre Island, along the...

Ecuador seeks regional support over threat of foreign fishing fleets

Quito, 25 Jul (efe-epa).- Ecuadorian President Lenin Moreno reported Saturday that he has requested meetings with some Pacific coastal nations to seek a...

Florida surpasses New York with more than 414K COVID-19 cases

Miami, Jul 25 (efe-epa).- Florida is the US state with the second highest number of confirmed coronavirus cases, after California, having surpassed New York...

Trump nixes in-person Florida GOP conclave as US virus cases pass 4 mn

Washington, Jul 23 (efe-epa).- President Donald Trump on Thursday cancelled the in-person Republican National Convention scheduled for Aug. 25-27 in...