Netflix Subs Numbers Show Q1 Gains

LOS GATOS: Netflix topped the 60 million global subscriber mark in Q1 2015, with U.S. streaming members rising above 40 million and international customers increasing to more than 20 million.

Some 10 billion hours were streamed by Netflix users across the globe in Q1. In the period the company added 4.9 million new members globally, ahead of its 4.1 million forecast. Netflix now has 62.3 million streaming members globally.

The company ended the period with total revenues of $1.4 billion and a net profit that fell to $24 million. Domestic streaming revenues generated $984.5 million, while international streaming customers brought in $415.4 million.

In a letter to shareholders, CEO Reed Hastings and CFO David Wells noted that beginning in Q2, some of the U.S. marketing budget will be used for its international services.