Netflix Doubles Profit With 50 Million Subscribers

Netflix which was once in troubled waters has made a comeback, it has reported its second quarter earning today and it has nearly doubled its earning this quarter compared to the same it reported last year.

The most interesting number in its report is its subscribers, which has reached 50 million of which roughly 2 million are free trail accounts, but that still leaves a massive 48 million paid subscribers.

The company reported 1.34 billion in revenue and earnings per share of $1.15, both numbers right on line with Wall Street’s expectations. That means Netflix earned more than double the profit it did in the second quarter of 2013, when it reported earnings per share of $0.49. Netflix now has 36.24 million US subscribers and 13.8 million international subscribers. That’s roughly 25 percent growth for domestic subscribers and 77 percent international growth on a year over year basis.

Netflix noted that its international growth, particularly in Latin America, was driven by smart TV adoption, a trend accelerated by the World Cup. “Post World Cup, the number of Smart TVs used for Netflix viewing in Latin American countries is at a new high; in fact, the percentage of viewing from Smart TVs in Latin America is higher than any other region we serve,” the company said in its letters to investors.