Revenue, Profit, Subs Gains at Netflix

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LOS GATOS: Reporting its second-quarter results, Netflix said it had topped the 50-million subscriber mark worldwide, with revenues rising to $1.3 billion and net profit up to $71 million.

The platform recorded 36.24 million total U.S. streaming members at the end of Q2, with 570,000 additions in the period, down from the 2.25 million added in Q1. For Q3 the company is projecting to add 1.33 million U.S. streaming customers. U.S. streaming revenues were $838 million in the period.

In its international operations, Netflix reported Q2 revenues of $307 million and a loss of $15 million. Netflix had 13.8 million members internationally, adding 1.12 million in the period. It is forecasting a gain of 2.36 million customers in Q3. September will see launches in Germany, France, Austria, Switzerland, Belgium, and Luxembourg. In a letter to shareholders, CEO Reed Hastings and CFO David Wells projected this international expansion will lead to a wider international loss of $42 million in Q3.

Hastings also announced that this year will see the launch of Netflix gift cards in retail stores in the U.S., Canada, Mexico and Germany.