Netflix, Inc. (NASDAQ:NFLX) announced in its latest quarterly reports late Monday that it had reached the 125-million subscribers plateau.
The online streaming site added 7.4 million subscribers for the first three months of 2018, marking a 50% gain compared to the year-ago quarter. About 5.5 million of these subscribers came from in the U.S., but the company is also gaining traction oversees.
Many analysts expected Netflix to do well in its latest earnings report and the company exceeded expectations, rolling out 18 original series during the quarter, as well as 11 new seasons for existing original series and 14 new original movies. The company’s stock has grown 60% during the year thanks to optimism for its original content strategy.
New additions include the Queer Eye reboot, a new season of Jessica Jones and the new David Letterman talk show, which includes interviews with Barack Obama and Jay-Z. Netflix predicts that it will have 700 programs available for customers in 2018, according to CFO David Wells.
The streaming provider has spent about $8 billion on shows and movies this year, marking an increase from the $6 billion in 2017, according to the earnings report. Netflix has also committed $17.9 billion to streaming content deals, up from $15.3 billion last year.
The company increased prices by 10% during the final quarter of 2017 to $10.99 a month for the standard Netflix service.
NFLX stock gained as much as 5.5% after the bell Monday.