Having added the record number of 9.6 million paid subscribers
in the three months ending March 31, Netflix beat Wall Street expectations as well as its own forecast given in January. The company surpassed its target by roughly 700,000 subscribers, growing its total paid subscriber base to 148.9 million by the end of the first quarter.
Wall Street closely watches Netflix's subscriber growth because the company's huge investments in content
, both licensed and self-produced, will only pay off in the long run if its global subscriber base reaches a certain size.