Netflix on Monday adding fewer subscribers in the first quarter, both in the United States and around the world. But investors are unfazed. With the video streaming service still posting higher income and revenue and the stock moving up after hours. Reuters' breaking news columnist Jen Saba.>> So Netflix missed its subscriber estimates.
And, this time, it doesn't seem to be that big of a deal. They're going to hit 100 million subscribers globally soon. Which, I mean, is an extraordinary amount of people. So, I think the market is betting that Netflix is still the company to beat.>> In a rare admission, CEO Reed Hastings telling shareholders that some forays into original programming have failed, singling out the new movie sequel Crouch Tiger Hidden Dragon, Sword of Destiny.
>> So they're burning through a ton of cash, and they're basically spending on content like The Crown, or Stranger Things. And that is worrisome for a lot of people. And they also flagged that they're going to continue to burn through a lot of cash, two billion this year, for example.
So, basically they're trying to spend to get subscribers, so they can get more people to sign up for it.>> The company, which has also produced massive hits like House of Cards and Orange is the New Black shrugging off it's competition. Hastings saying he has little interest in offering sports following Amazon's deal to offer NFL games.