Netflix now said it has 125 million subscribers around the world, up from 117.6 million a year ago, with 56.7 million in the United States where a stronger than expected 2 million or so were added in the quarter.
Netflix shares surged 6.5% to $328 after hours.
Sarandos said the latest season of 13 Seasons Why, a mystery about a high school student who takes her own life, was perhaps the most popular show in the world a year ago. Insiders sold 445,545 shares of company stock worth $120,523,106 over the last quarter.
Investors cheered growth in subscriber numbers to 7.4 million with Netflix adding 1.96 million new users in the USA, and 5.46 million internationally.
Netflix says it will spend up to $8 billion on global TV shows and movies in 2018. Traders accepted free income in exchange for the potential for growth in the future years, as it's enlarged to some 190 countries.
The decline primarily stemmed from discounts that Spotify gave for its family packages and students, helping to increase its paid subscribers from 28 million in 2015 to 71 million at the end of a year ago - almost twice as many as Apple Music, its biggest rival.
"We have big plans for content growth and you should expect that to continue", Chief Executive Reed Hastings said on a post-earnings webcast. That means Netflix needs to keep more people signing up for subscriptions to make sure that pricey programming pays off. In the first quarter it debuted "Altered Carbon" and "The End of the F***ing World", in addition to returning seasons of "Marvel's Jessica Jones" and "Grace and Frankie". But it means they can't talk about Netflix's impressive subscriber number without also showing that those gains are essential to the Netflix machine. The business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.28 billion.
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"Subscribers are accelerating even at higher pricing", BTIG analyst Richard Greenfield said.
In a quarterly letter to shareholders, Netflix said it will "continue to raise debt as needed to fund our increase in original content", adding that its debt levels were "quite modest as a percentage of our enterprise value". Additionally, Spanish language heist thriller La Casa de Papel became the most watched non-English series on Netflix ever during the period. The firm has a market capitalization of $62.15 billion, a PE ratio of 335.79 and a beta of 1.27.
To help cover its mounting costs, Netflix hiked prices by 10% in the final quarter of 2017, to $10.99 a month for the standard service.
Netflix has released their 2018 Q1 earnings report, and the numbers are again positive for the company, which saw its subscriber growth increase, along with revenue. It appears mostly bullish, as TipRanks analytics demonstrate NFLX as a Buy.
Netflix, based in Los Gatos, California, said first-quarter profit rose to 64 cents a share, from 40 cents a year earlier.
Revenue grew 40 percent year-over-year to $3.7 billion, the fastest pace in the company's history.