ONLINE video service Netflix reported profits of £42m in the second quarter, more than double compared with the same period a year ago.

The company said revenue from its streaming content service rose nearly 50 per cent to £700,000, compared to a year earlier.

Netflix said it added 1.69 million users during the period from March to June.

The streaming video firm now has 50 million users in over 40 countries.

Netflix has sought to upend the television industry by commissioning original content for its streaming-video platform and taking on established brands like HBO.

Viewers have reacted positively to shows like House of Cards, starring Kevin Spacey and prison drama Orange is the New Black.

Last year, the company's original programming was nominated for 14 Emmy TV awards, winning three, and this year its programming garnered a record 31 nominations.

However, the company has recently suffered some setbacks in the US, as it has battled with internet service providers (ISPs) such as Verizon over who must pay for the increasing pressure that streaming video puts on download speeds.