Arrested Development

Arrested DevelopmentNetflix added 630,000 subscribers in the U.S. during the second quarter, the company announced on Tuesday. That’s in the range of the guidance the company provided three months ago, but it may disappoint investors who were hoping that new shows like “Arrested Development” could bring in something closer to 900,000 new customers. The company earned 49 cents per share during the quarter — higher than the 40-cent Street consensus — and generated $1.07 billion in revenue, which was in line with expectations. Netflix has yet to release any actual viewership numbers for its new shows, and says it doesn’t plan to. But in his quarterly investor letter, CEO Reed Hastings credits “Arrested Development” with “generating a small but noticeable bump in membership when we released it” in May. Expect more original programming beyond the titles Netflix has announced, Hastings said.

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