Netflix shares on track for worst day in five months

Two stocks you should always put money on: PayPal Holdings, Inc. (PYPL), Exelon Corporation (EXC)

Netflix, an American entertainment company is on the verge of hitting 100 million subscribers, an evidence to how much the video streaming service has differed the entertainment landscape from the time it was introduced.

Netflix CEO Reed Hastings anticipates the next 100 million subscribers to expand more swiftly than the first 100 million, but he didn't give a particuar schedule during an online video review of the organization's first quarter.

Netflix added almost five million subscribers worldwide in the first quarter of 2017, down from more than seven million subscribers it added the quarter before that.

Based in Los Gatos, California, Netflix now has a market value of approximately $63 billion. As of end of March, the on-demand streaming service had 98.75 million streaming members worldwide. However, Netflix did provide upbeat guidance for second quarter subscriber additions at 3.2 million, well above the 2.54 million subscribers analysts were expecting.

In the first three months of the year Netflix has seen a growth slowdown.

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Netflix (NFLX) is estimated to have ~19.0 million subscribers in Europe. First-quarter results also compare to consensus estimates for EPS of $0.37 and $2.64 billion in revenues. The company announced it expects to pass 100 million users this coming weekend.

Its stock rose $1.67 to $148.92 in Monday's extended trading, even though subscriber growth during the first quarter came in slightly below management forecasts. Revenue growth continued during the quarter, rising by 38.8% year-on-year to US$2.516 billion. On the top line, sales of $2.64 billion were right on par with estimates. That didn't help the blow of weak US additions of 1.42 million streaming subscribers. Group net profit lifted to Dollars 178 million from 28 million, with an operating margin advancing to 9.7 percent from 2.5 percent.

On Wednesday, Netflix stock was on track for its worst day in five months, although it showed resistance just under $142 a share.

"We have a large market opportunity ahead of us", Netflix said.

"We've said previously subsequent seasons of show that are very popular tend to have more impact on the business than introducing brand new IP [intellectual property]", explained Netflix Chief Content Officer Ted Sarandos during the webcast.

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