Netflix Reaches 104 Million Subscribers
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Streaming service Netflix has announced that it added 5.2 million subscribers in the most recent quarter, bringing its total to 104 million subscribers. Those numbers were higher than analysts expected, which led to a 10 percent increase in the Web company's stock price.
Recently, Netfilx has been producing more original content. That strategy seems to be paying off because the company's second quarter revenues climbed 32 percent to reach $2.8 billion. Net income came in at $65.6 million, a 60 percent year-over-year increase.
The firm is also doing well overseas. More than half of its subscribers reside outside the U.S.