The Los Gatos, California-based company said net income rose to $178 million, or 40 cents per share, compared with $28 million, or 6 cents per share, in the year-ago period. Wall Street had expected 37 cents per share.
Revenue rose 35 percent to $2.64 billion in the quarter.
The earnings beat was due to the change in timing of “House of Cards,” which helped push costs into the second quarter, boosting operating margins from January through March and reducing them in the second quarter.
For the quarter that ended March 31, Netflix added 3.53 million subscribers outside the United States. (http://bit.ly/2puJ1Yt) Analysts on average had estimated 3.68 million additions, according to research firm FactSet.
In the United States, the company added 1.42 million subscribers, compared with analysts’ average estimate of 1.50 million.
Up to Monday’s close, Netflix’s stock had risen nearly 19 percent in 2017, outperforming the roughly 5 percent gain in the broader S&P 500 index.
(Reporting by Narottam Medhora in Bengaluru; Editing by Savio D’Souza, Peter Henderson and Bill Rigby)
