Netflix Inc on Tuesday forecast global paid subscriber additions in the second quarter below analysts' estimates, after reporting better-than-expected subscriber additions in the first quarter. The company said it now expects to add 5 million subscribers globally in the current quarter compared with 5.48 million paid subscribers globally, according to Factset estimates. The second-quarter forecast was also lower than 5.45 million subscribers that the company added a year earlier. In the reported quarter, Netflix added 7.86 million paid subscribers internationally, compared with the average analyst estimate of 7.14 million, according to IBES data from Refinitiv. Netflix spent $7.5 billion on content for 2018 and executives have said that number will grow in 2019.

Source: The Star April 16, 2019 20:37 UTC