Netflix has officially reported its first quarter 2020 results, and its global net subscriber additions reflect the strange times we are currently living in.
The streamer has almost 15.8 million new subscribers from across the globe, and recognises that people are increasingly turning to streaming in light of the coronavirus crisis.
Indeed, this figure is in stark contrast to its guidance of 7 million when it reported results back in January.
In its shareholder letter, Netflix indicated that they were aware such growth could drop drastically in future quarters, with weak subscriber growth likely as the year goes on.
Despite this surge in growth, Netflix stock appears to reflect the outlook for later in the year – trading wasn’t changed after April 21 hours even with the huge net subscriber additions.