covering the week's top textbooks like
Linux bias having released its first
quarter fiscal year results for 2020
Netflix Netflix has revealed some
unusual coronavirus impacts made most
plain in its Form 10-q Netflix said the
Cova 19 pandemic has also led to an
increase in our net paid membership
additions relative to our quarterly
forecasts and historic trends indeed the
company reported fifteen point five
million new subscribers in the quarter
for a total of a hundred and eighty-two
point 86 million almost double recent
quarters of subscription growth but the
filling mourns the surge may not be
indicative of results for future periods
CEO Reed Hastings letter to shareholders
opens with in our 20-plus year history
we have never seen a future more
uncertain or unsettling and goes on to
explain that onboarding a rush of new
users has actually damaged Netflix
average revenue per user the CEO also
explained that the pandemic will impact
the streamers pipeline of new shows
because most film crews worldwide have
had to stop working although animators
were quickly back at work and writers
mostly just kept writing revenue for the
quarter was us five point seven seven
billion dollars in operating income hit
nine hundred and fifty eight million
both the best results the company has
achieved in recent history and that's
after taken into account the strength of
the US dollar which reduces the value of
subscriptions in other nations Hastings
also wrote that Netflix investment in
cash eases systems appears to have paid
off both in terms of user experience and
letting it respond to the government
requests to reduce his impact on
networks the company has also blogged
about its introduction of support for
TLS 1.3 which means it can do a full
handshake with a device with one
round-trip or sometimes without a
roundtrip at all that translates into
faster stars for streams and less
traffic on networks subscribers ought
not to expect more new features at this
time Hastings letter added that while
Netflix Netflix devs are now working
from home and that transition is going
well they have temporarily reduced the
number of product
patience while continually continuing to
release features they believe will have
meaningful value for members such as
improved parental controls
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