Netflix (NASDAQ: NFLX) has announced that the company will be expanding globally. Investors have known this for quite sometime, which is one piece of knowledge that would justify the nosebleed PE ratio that the company currently boasts. the stock however rallied strongly on the news, rising almost 5%. There's no telling where the next stop for the stock is given the mixed news of global expansion from one side, and increasing competition from Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Disney (NYSE: DIS) from the other.
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Netflix, Inc. is a subscription service streaming movies and television episodes over the Internet and sending DVDs by mail to more than 12 million subscribers. The Company’s subscribers can watch unlimited movies and television episodes streamed to their televisions and computers, and can receive DVDs delivered to their homes. The Company offers a variety of subscription plans, with no due dates, no late fees, no shipping fees and no pay-per-view fees. Subscribers can select from a library of titles that can be watched and a range of titles on DVD. On average, approximately two million discs are shipped daily from the Company’s distribution centers across the United States. In September 2010, the Company launched Canadian service for streaming movies and television episodes over Internet.
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