Netflix posts explosive growth, but warns boom may not last
Add BT as a preferred sourceNETFLIX Inc posted the strongest financial results in company history on Tuesday, adding a record 15.8 million paid subscribers - almost double the figure forecast by Wall Street analysts. Yet rather than gloat, the company's executives warned investors not to get too excited.
Netflix benefited in the first quarter from an unprecedented health crisis, the global novel coronavirus pandemic. With billions of people stuck at home, the world's largest paid online TV network experienced an explosive jump in customers in March, with many binge-watching Tiger King and Love Is Blind to ride out the quarantine.
But there's no telling how long the boom will last. Netflix expects the surge to come at the expense of growth in the months ahead.
