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Netflix follows strong earnings with first-ever acquisition

Published 08/07/2017, 02:37 PM
Updated 08/07/2017, 02:37 PM
© Reuters.  Netflix follows strong earnings with first-ever acquisition

Investing.com - Netflix Inc (NASDAQ:NFLX) has followed up its blockbuster quarterly results by announcing its first acquisition. Netflix will buy out comic book publisher Millarworld

Under the deal, Netflix will gain exclusive rights to Millar's portfolio of comics and graphic novels and Millar will develop new stories for Netflix. Financial terms were not disclosed.

Netflix has experienced some growth challenges and has consistently had negative or negligible operating cash flows due to its aggressive and expensive market expansions. But, things have started to look up for the company, and in the recent quarter, Netflix posted blowout results with content growth powering new subscriptions.

Netflix shares were fractionally higher on Monday, trading up 0.73% on the final stretch to the closing bell. At $181.51, shares are at the top-end of their 52-week range of $92.95 - $191.50.

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