Tech: Netflix blows past targets and adds 5.2 million subscribers, stock soars to all-time high

After missing its subscriber growth targets last quarter, Netflix said it was expecting a big Q2. Netflix reports its Q2 earnings Monday.

After missing its subscriber growth targets last quarter, Netflix soared past them in Q2, both on the domestic and international fronts.

Netflix added a whopping 5.2 million total subscribers, versus the company forecast of 3.2 million.

"In Q2, we underestimated the popularity of our strong slate of content which led to higher-than-expected
acquisition across all major territories," Netflix wrote in its earnings letter.

The stock was up 8% in the immediate aftermath, and hit an all-time high in after-hours trading.

Here are the key numbers:

• Q2 EPS (GAAP): $0.15 per share versus Wall Street expectations of $0.16.
• Q2 revenue: $2.78 billion versus Wall Street forecasts of $2.76 billion.
• Q2 US subscriber growth (net additions): 1.07 million versus Wall Street expectations of 633,000, and Netflix guidance of 600,000.
• Q2 international subscriber growth (net additions): 4.14 million versus Wall Street expectations and Netflix guidance of 2.6 million.
• Q3 revenue forecast: $2.969 billion.
• Q3 US subscriber growth forecasts (net additions): 0.75 million.
• Q3 international subscriber growth forecasts (net additions): 3.65 million.

We will be adding in the numbers as soon as they come through. Refresh this page for the latest.

After missing its subscriber growth targets last quarter, Netflix said it was expecting a big Q2. Netflix reports its Q2 earnings Monday. Read Full Story