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: Snapchat has IPO plan, CEO says

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

Snapchat has IPO plan, CEO says

13 hours ago

The chief of vanishing-image service Snapchat on Tuesday said the company has a plan for going public with an offering of stock but did not reveal when it might happen.

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.