Stay-at-home efforts necessitated by the coronavirus pandemic has made streaming services indispensable to people looking for ways to pass long periods of time stuck at home. That was very good news for Netflix (NASDAQ: NFLX) when it reported first-quarter earnings in April.
Being stuck at home left people looking for something to do, and many chose to join the streaming leader. The company added roughly 16 million subscribers globally, going from 167.09 million at the end of Q4 to 182.86 million to close Q1.
That's astounding growth, but the company expects it to slow as stay-at-home orders are lifted. CEO Reed Hastings offered some color on that in his first-quarter letter to shareholders:
Source Fool.com