Netflix Adds 7.41M Streaming Subs in Q1

Aided heavily by international subscriber additions, Netflix said it added 7.41 million streaming subs worldwide in Q1, handily beating the 6.35 million it expected to add.

The Q1 totals, which included 1.96 million U.S. streaming sub additions and 5.46 million from its international offerings, extended Netflix’s global streaming base to about 125 million. 

Netflix had expected to add 1.45 million U.S. streaming subs, and 4.9 million international subs.

Related: Wall Street Looking Forward To Growth in Netflix Subs

Netflix shares were up $20.23 (6.57%) to $328.01 each in after-hours trading Monday.

In its letter to shareholders, Netflix said it expects to end Q2 with 131.2 million subs worldwide by adding 6.2 million more (1.20 million U.S., 5 million from international operations).

Q1 revenue was $3.7 billion, up 40.4% year-over-year, with net income of $290 million (64 cents per diluted share). Netflix said revenue growth in Q1 marked the fastest pace in the history of its streaming business, driven by a 25% boost in average paid streaming memberships.