So…Netflix (NASDAQ: NFLX) reported earnings after the market close today, and blew the estimates away.
In the third quarter, Netflix added 6.96 million new subscribers. The company’s estimate was 5 million, and analysts were looking for 5.28 million.
Netflix has a total of 137 million subscribers. There are 7 billion people on the Earth, and if only half have Internet capabilities (and that number is rapidly growing!) that leaves us with 3.5 billion+ potential subscribers, still!
I know this sounds crazy, but Netflix STILL has tremendous growth ahead.
Streaming is definitely the future.
Check out this article: https://ark-invest.com/research/netflix-largest-us-tv-network
Until next time!