On Monday afternoon, streaming video company Netflix delivered a blowout earnings report for the 2016 third quarter, smashing its own expectations for growth as well as beating the estimates of Wall Street analysts.
In reporting its earnings for the July-September 2016 quarter, Netflix revealed that it added 3.6 million subscribers during the quarter; thanks largely to a noteworthy growth in the number of international subscribers. The company added 3.2 million new subscribers in international markets during the reporting quarter, though it had expected to add only 2 million new international subscribers.
As a result of the addition of 3.6 million new subscribers overall in the third quarter, after a rather lacklustre second quarter in which Netflix added only 1.7 million new subscribers, the total number of Netflix subscribers has now reached more than 86 million.
The impressive subscriber growth witnessed by Netflix in international markets in the 2016 third-quarter resulted in an increase in the company's quarterly streaming revenue to more than $2 billion for the first time in its history.
Netflix also said in its latest earnings report that its international contribution loss in the 2016 third quarter was flat sequentially at $69 million, which was better than the $95 million loss management that the company had projected in July.
