Netflix Adds 9.3M Subscribers In Another Strong Quarter

Netflix added 9.3 million subscribers in the quarter ended March 31, reaching 269.6 million worldwide, and outperformed expectations in other key areas in its latest strong financial report.

Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively.

Two years after the company was on its knees, with a subscriber base in decline and competition closing in, Netflix has come roaring back. Its stock has recently topped $600 a share, and many Wall Street analysts have upped their 12-month price targets, with some pegging it at $700 or higher. Just a few quarters after its crossroads, Netflix has emerged the unquestioned leader in streaming, with rivals still reckoning with how to catch up to it.