Netflix domestics revenues increased 23%Staff Writer | October 17, 2016
Netflix Q3 quarterly global streaming revenue exceeded $2 billion for the first time, up 36% year over year.
Netflix Netflix global streaming revenue totaled $2.2 billion
Operating income amounted to $106 million (compared with company's $64 million estimate) while net income was $52 million (vs. forecast of $22 million).
In Q3, we added 0.4 million members in the U.S. vs. company's forecast of 0.3 million and 3.2 million members internationally vs. company's forecast of 2.0 million.
Domestically, revenue rose 23% year over year, 480 basis points faster than Q2. U.S. marketing expense rose as a percentage of revenue as we spent to build awareness for company's expanding number of original titles.
U.S. contribution profit increased 38% year-over-year with contribution margin expanding to 36%, slightly ahead of company's 35% forecast. ■