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Surprising Netflix subscriber surge despite price hikes
Netflix Surpasses Expectations with 9.33 Million New Subscribers in Q1 2024
Netflix stunned analysts and the industry alike with its first-quarter 2024 earnings report, revealing a remarkable surge of 9.33 million paid subscribers, soaring past the anticipated 3.93 million additions and bringing its total subscriber count to an impressive 269.60 million.
This surge follows a record-breaking fourth quarter of 2023, where Netflix added 13.1 million subscribers. Despite this remarkable growth streak, Netflix announced it would cease reporting quarterly subscriber totals from 2025 onward, signalling a significant shift in industry dynamics. Notable contributors to this growth included high-profile releases like the live-action adaptation of “Avatar: The Last Airbender” and “3 Body Problem” by the show-runners behind “Game of Thrones.”
Regionally, the U.S. and Canada saw a growth of 2.53 million paid subscribers, while Europe, the Middle East, and Africa added 2.92 million, Latin America saw an increase of 1.72 million, and the Asia-Pacific market experienced a rise of 2.16 million.
Alongside surpassing subscriber expectations, Netflix exceeded financial projections, reporting a 15% increase in revenue from Q1 2023, with diluted earnings per share of $5.28 on $9.37 billion in revenue.
Looking ahead, Netflix forecasts robust financial performance for Q2, with expectations of $9.49 billion in revenue and diluted EPS of $4.68, aiming for revenue growth of 13% to 15% for the full year 2024, reflecting a bullish outlook on its operational margin.
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Australia issues evacuation advisory for diplomats and citizens in the Middle East
Australian diplomats’ families in Israel and Lebanon urged to evacuate amid rising tensions; all Australians advised to leave soon.
Australian diplomats’ families in Israel and Lebanon urged to evacuate amid rising tensions; all Australians advised to leave soon.
Families of Australian diplomats in Israel and Lebanon have been ordered to evacuate as tensions in the region continue to rise. The government is prioritising the safety of its personnel and their families.
All other Australians have been urged to leave while commercial flights and other travel options are still available. Authorities are emphasising the importance of acting quickly before options become limited.
The Department of Foreign Affairs and Trade has warned that the security situation in the Middle East remains unpredictable and volatile.
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Trump signals possible action on Iran nuclear threat
Trump warns Iran on nuclear weapons and highlights threats, as US boosts military presence amid stalled talks.
Trump warns Iran on nuclear weapons and highlights threats, as the US boosts military presence amid stalled talks.
President Donald Trump laid out a strong warning to Iran during his State of the Union address. He labelled Tehran as the world’s biggest sponsor of terrorism and signalled that the U.S. might take action if Iran continues its nuclear ambitions.
Trump emphasised that Iran’s missile and nuclear programs, along with its backing of militant groups, pose serious threats to regional stability.
This comes amid growing concerns over Iran’s nuclear developments and the stalled diplomatic efforts to curb them.
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Qantas announces 8,500 jobs and frequent flyer changes
Qantas announces 8500 new jobs and frequent flyer program revamp after record half-year profit of $1.46 billion
Qantas announces 8500 new jobs and frequent flyer program revamp after record half-year profit of $1.46 billion
– Qantas reported a $1.46 billion half-year profit, planning to create 8,500 jobs by 2030.
– Frequent Flyer program changes include earning status credits on the ground and rolling over excess credits.
The Qantas Group reported a record half-year profit of $1.46 billion for the first half of the 2026 financial year, an increase of $71 million compared to the previous period. The airline plans to create 8,500 jobs by 2030 and re-establish a cabin crew base in Singapore, along with new initiatives for frequent flyers.Statutory profit after tax rose to $925 million, allowing shareholders to receive a fully franked dividend of 19.8 cents per share.
The current underlying profit surpasses the record set in 2023 under former CEO Alan Joyce. Chief executive Vanessa Hudson highlighted a commitment to customer, employee, and shareholder satisfaction while emphasizing ongoing investments in fleet renewal.
As Qantas adds new aircraft to its fleet, it anticipates the creation of jobs, including 3,500 additional cabin crew and 1,000 pilots.
A new Jetstar cabin crew base will open in Perth later this year, generating 90 roles, while Singapore is expected to accommodate 400 cabin crew members.
Qantas CEo Vanessa Hudson.
Frequent Flyer Changes
Qantas will implement significant changes to its Frequent Flyer program. Members can now earn status credits on the ground through credit cards and program partners.
They will also have the option to rollover up to 50% of excess status credits from one year to the next.
Hudson stated the overhaul aims to enhance flexibility and recognition for members amid a changing loyalty landscape.
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