Netflix added more subscribers than it anticipated after raising prices on its most popular plan by $1 to $10.99 a month. Netflix CEO Reed Hastings said in an interview following the company’s first quarter results release that while prices will likely increase again, there is no plan to do so right now.
Including new growth, Netflix’s subscriber base now spans 125 million users globally. The company also saw revenue grow 43 percent to $3.6 billion in the first quarter of this year compared to the same period a year prior. Netflix ended the quarter with net income of $290 million, up from $178 million.
Netflix saw shares increase more than 5 percent in after-hours trading following its earnings release. During the last three months, Netflix shares have climbed more than 22 percent, USA Today reports.
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