Netflix's strategy to invest heavily in content
, both original and licensed, continues to pay off. The streaming giant added 7.4 million subscribers between January 1 and March 31, bringing its total subscriber base to 125 million.
Both domestic and international subscriber growth beat Wall Street expectations as well as Netflix's own guidance and the company's growth targets for the second quarter of 2018 suggest a greater sense of optimism than Wall Street had hoped for. Netflix now has members in over 190 countries and its international business contributes positively
to the company's bottom line, propelling net profit to a record $290 million
, up from $178 million in Q1 2017.
Netflix shares soared in early trading on Tuesday and are now up nearly 70 percent since the beginning of 2018.