Netflix Passes 50 Million Subscribers

Netflix's "Orange Is the New Black"

Netflix on Monday reported that it added 1.69 million paying streaming subscribers in the second quarter, enough to put it past 50 million for the first time.

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Netflix had guided analysts to expect less than 1.5 million additions during the quarter, which would have kept it under the 50 million threshold. Instead, the company ended the quarter with 50.05 million streaming subscribers worldwide.

The company reported earning $1.15 per share on revenue of $1.34 billion, which were mixed results compared to Wall Street's expectations.

Analysts predicted the streaming-media company to post earnings per share of $1.16 on $1.33 billion in revenue.

Wall Street appeared mildly impressed with the financial results, as shares were trading 1 percent higher after the closing bell. During the regular session, Netflix shares were up 2 percent to $451.96.

At the end of the quarter, Netflix boasted 35.1 million paying subscribers to its domestic streaming service, up from 28.6 million a year ago. Domestic DVD subscribers fell to 6.2 million from 7.4 million last year.

Paid international streamers rose to 12.9 million from 7 million a year ago. Netflix does not offer an international DVD service.

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Netflix Passes 50 Million Subscribers