Netflix has made quite a name for itself, after all it happens to be the largest online subscription streaming service in the world. It has seen steady growth over the past few quarters, its rapidly expanding library and critically acclaimed original content such as House of Cards and Orange is the new Black certainly helped to an extent. Due to make an official announcement later today, Bloomberg estimates that U.S. Netflix subscribers have now crossed 33.1 million, with roughly 2.05 million being added in the previous quarter alone.
Inventors are keenly waiting for Netflix to announce its results after close of trading today, the company’s shares tripled over the course of 2013, which is why investors are going to view the subscriber and revenue forecasts were closely to determine whether or not Netflix’s elevated stock price can be justified. Rich Greenfield of BTIG expects that Netflix is on track to cross 40 million subscribers by 2015, while other analysts expect Netflix to announce a profit of over $40 million later today, significantly higher from the $8 million unexpected profit it announced back in January 2013. Even though Netflix is experiencing steady growth, it is facing strong competition from the likes of Amazon Prime, which has already racked up 20 million subscribers. Even Hulu is on the offensive with 5 million subscribers and major investments in the production of original content.
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