Netflix beats estimates for paid subscriber additions on surge in at-home viewing


FILE PHOTO: The Netflix logo is pictured on a television remote in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake

July 16, 2020

(Reuters) – Netflix Inc <NFLX.O> added more paid subscribers than expected in the second quarter as audiences bound to their homes due to the COVID-19 restrictions binge watched its shows in the absence of live events and movie theaters.

Netflix said on Thursday it added 10.09 million paid subscribers globally during the quarter ended June 30 compared with analysts’ estimates of 8.07 million, according to research firm Refinitiv. (

The streaming giant also said it has appointed Chief Content Officer Ted Sarandos as co-chief executive officer.

(Reporting by Neha Malara and Lisa Richwine in Los Angeles; Editing by Arun Koyyur)