Netflix gains 630K subscribers as 2Q earnings soar

Jul 22, 2013

(AP)—Netflix's second-quarter earnings more than quadrupled as the revival of the comedy series "Arrested Development" attracted more subscribers.

The report released Monday showed Netflix added 630,000 U.S. subscribers during the three months ending in June. That performance was slightly above the mid-range target set by Netflix Inc.'s management in April, but less than what many investors were expecting. Its fell 6 percent.

The gains leave Netflix with 29.8 million U.S. subscribers to an $8 monthly service that video to Internet-connected devices.

The second quarter included Netflix's Memorial Day weekend release of 15 new "Arrested Development" episodes.

Netflix earned $29.5 million, or 49 cents per share, in the quarter, up from $6.2 million, or 11 cents per share, a year earlier.

Revenue rose 20 percent to $1.07 billion.

Explore further: China's Xiaomi raises more than $1 bn in funding

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Ahead of the Bell: Netflix to unveil 1Q results

Apr 23, 2012

(AP) -- Investors will be focusing on how many customers Netflix has been adding and how much money the company has been losing when the video subscription service releases its first-quarter results.

Recommended for you

China's Xiaomi raises more than $1 bn in funding

10 hours ago

China's top smartphone seller Xiaomi Corp. is raising more than $1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion, a report said Sunday.

Why the Sony hack isn't big news in Japan

Dec 20, 2014

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

Dec 20, 2014

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

Dec 20, 2014

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.