Netflix said it ended Q1 2017 with 98.78 million streaming subs worldwide, after adding 4.95 million in the period but missing original estimates.
Netflix ended Q1 with 50.85 million U.S. streaming subs, adding 1.42 million in that category. The OTT giant added 3.53 million international streaming subs in Q1, extending that total to 47.89 million. The company said it's seeing a "small but steady migration" to Netflix's four-stream, 4K video quality tier, but didn't say how many subs are on its highest-end plan.
Netflix originally expected to add 1.5 million U.S. streaming subs, and 3.7 million international streaming subs in Q1 2017. Investors didn't appear to be too concerned, as Netflix shares were down 95 cents (0.65%) to $146.30 each Monday in early after-hours trading.
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In its Q1 investor letter (PDF), Netflix said international net adds dropped 22%, year-on-year, "as we lapped our January 2016 launch of over 130 countries, and the accompanying early surge demand, in Q1 2016."
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