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Netflix added 670,000 subscribers in the United States, well below analysts’ estimates of 1.19 million, according to Thomson Reuters I/B/E/S. It signed up 4.47 million subscribers internationally, while analysts were expecting 4.97 million. The overly optimistic projections were “pretty broad across multiple markets,” Chief Financial Officer David Wells said on a post-earnings webcast. Executives voiced confidence about the long-term health of the streaming service. Chief Executive Reed Hastings said median viewing hours were growing, though he did not provide specifics.
“The fundamentals have never been stronger,” Hastings said, Forrester analyst James McQuivey said he believed that the quarterly results were “not a sign of softening in the business overall.”, “These are still millions of new subscribers, even if they didn’t meet the expectations that might have been set by the last two quarters, which were extraordinarily high,” he said, Earnings per share came in at 85 cents, beating analyst black stainless steel black crystal cufflink and stud set forecasts of 79 cents, Total revenue rose 40.2 percent to $3.91 billion, Analysts had expected revenue of $3.94 billion..
For the current quarter, Netflix projected it would add 5 million customers. It is making a big push in India. Earlier this month, it debuted its first Indian original series, “Sacred Games,” part of a slate of new shows aimed at the vast Bollywood entertainment market. Netflix said operating margins would be narrower than previously expected because of the rapid strengthening of the U.S. dollar, which appreciated by more than 5 percent against major trading partners’ currencies in the second quarter. While most of the company’s revenue growth comes from international markets, the vast majority of its costs remain dollar-denominated.
Hastings said the company would make adjustments to account for foreign exchange rates in order to “steadily” increase operating margins, At the same time, Netflix faces growing competition, Amazon.com Inc plans to add more regional content in India as it builds the Prime black stainless steel black crystal cufflink and stud set video service around the world, Apple Inc is pouring money into original programming, signing up A-list names including Oprah Winfrey, And AT&T Inc has promised to boost investment in HBO after taking over the network in its Time Warner acquisition..
LONDON (Reuters) - Silicon Valley e-cigarette start-up Juul Labs is bringing its small flash drive-sized vaping device to the United Kingdom this week, aiming to reproduce its break-neck U.S. growth overseas. Since launching in 2015 Juul has transformed the market in the United States, where it now accounts for nearly 70 percent of tracked e-cigarette sales. Juul says it targets adult smokers, but it has faced scrutiny over the popularity of its products with teenagers. In April the U.S. Food and Drug Administration launched a crackdown on the sale of e-cigarettes and tobacco products to minors, particularly those developed by Juul Labs.
A day after the FDA’s announcement, Juul revealed several initiatives to address the issue, such as earmarking $30 million to support government initiatives to black stainless steel black crystal cufflink and stud set raise the minimum tobacco-buying age, Grant Winterton, Juul Labs’ president for Europe, the Middle East and Africa, told Reuters that its activities in Britain would adhere from the start to its new “social and public policy”, which calls for using only adults in its marketing and making sure its brand ambassadors are older than 28..
“It’s true there are too many teens using our product, but they are far the minority,” Winterton said. Public health advocates are still debating whether e-cigarettes represent a health risk or potential benefit. The Juul device will be available in 250 vape shops across the UK by the end of this week. A starter pack, including the device and four nicotine pods, will cost about 29.99 pounds ($39.66). Winterton said Britain was Juul’s third market after the United States and Israel, partly because it has the world’s “most supportive government” when it comes to encouraging smokers to vape. Also on the radar are France, Germany and Italy.
The San Francisco-based company recently raised $650 million in equity financing as part of an investment round aimed at raising $1.25 billion, a securities filing showed last week, A source familiar with the matter said the round would be completed by the end black stainless steel black crystal cufflink and stud set of July and that it valued Juul at more than $15 billion, Winterton and co-founder James Monsees declined to comment on company valuation, revenue or growth, Juul’s main rivals are tobacco companies such as Altria (MO.N), Philip Morris International (PM.N) and British American Tobacco (BATS.L), who also sell e-cigarettes..