Can Netflix Sustain Its Coronavirus-Led Subscriber Growth?
Netflix's (NASDAQ: NFLX) subscriber gains for the first quarter of fiscal 2020 absolutely crushed estimates as people turned to the company's services for their source of entertainment amid the coronavirus-induced lockdowns across the globe.
The streaming giant added 15.8 million new subscribers during the three months that ended on March 31, which was more than double the company's own estimate of 7 million new additions. However, the uncertainty caused by the COVID-19 outbreak led Netflix management to warn investors that the momentum might not be sustainable.
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Source Fool.com