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Netflix Adds 16 Million New Subscribers

TheMotleyFool

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Netflix (NASDAQ: NFLX) is seeing an even wider lift to its business than most investors expected. On Tuesday, the streaming video giant reported fiscal first quarter results that easily set a growth record as millions turned to its content library for home-based entertainment.

The company added 15.8 million new users, which was more than double the 7 million that management had predicted before COVID-19 containment efforts took root in most countries around the world.

Netflix's expansion pace accelerated when, compared to the prior year, that was highlighted by a record 9.6 million new signups.

Source Fool.com

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