Netflix adds 15.8mn new subscribers, posts $5.7bn in revenue

Video streaming giant Netflix has added 15.8 million subscribers in the first quarter of 2020 which is a growth of 22 per cent (year-over-year), registering quarterly revenue of $5.77 billion.

Netflix now has over 182 million subscribers worldwide.

The positive results, despite the ongoing COVID-19 pandemic and fluctuating US dollar, saw Netflix stock up 3.3 per cent in early after-hours trading.

“In our 20+ year history, we have never seen a future more uncertain or unsettling. The coronavirus has reached every corner of the world and, in the absence of a widespread treatment or vaccine, no one knows how or when this terrible crisis will end.