San Franciso: Video streaming pioneer Netflix Inc added more subscribers than projected in the United States and abroad during the first quarter, news that sent its shares up nearly 12 per cent on Wednesday.
Net subscriber additions rose 22 per cent year-over-year to 4.88 million in the March quarter, beating the company’s forecast of 4.05 million. The company that shook up television with original shows such as “House of Cards” has been aggressively building its overseas presence as growth slows in the United States. It launched services in Australia and New Zealand in the quarter and expects to start in Japan later this year. Netflix added 2.6 million customers in its nearly 50 international markets in the quarter ended March 31, bringing the total to 62.27 million users worldwide.
