News Column

Netflix Reports Upbeat Earnings

April 22, 2013

Netflix Inc., the video streaming company, on Monday reported a first quarter profit of 2.69 million dollars, or 5 cents per share, on revenue of 1.02 billion dollars.

In the same quarter last year the company lost 4.6 million dollars, or 8 cents per share, on sales of 869.8 million dollars.

The company said it added 3 million new customers worldwide in the first three months of 2013, bringing its total to 36 million customers.

In a letter to its shareholders, Netflix said its customer base "collectively enjoyed ... over 4 billion hours of films and TV shows." The company has also seen success with original programming, such as the "House of Cards" series.

Shares surged 21 per cent in after-hours trading.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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