Netlix tops new subscriber records in Q1 2020

Netflix's 'new user' count has never been as high as they are now amidst the coronavirus pandemic.

Netflix hit a couple of new records in the quarter ending on March 2020. The forecast for new subscribers had low expectations though and therefore, the new total sub count is higher than ever. Because no one could have ever expected what is happening to the world this year, but some companies and doing fine with, financially speaking.

Netflix added 15.8 million subs more on top of the already huge user base, more than double than the 7 million forecasted by the board. Actually, only Europe, Middle East and Africa (EMEA) contribute with that amount of accounts, plus 3.6 million from Asia and 2.9 million from Latin America. There are already 183 million subscribers and they expect to add another 7 million in the current quarter.

More people paying means more revenue and, in this case, a big profit. Netflix made $709 million net profit in Q1 2020, doubling the results from the previous year. Good news for the stockholders as their stock value has risen by more than 30% this year up to date.