Netflix 1Q profit rises with 1.7M more subscribers

Apr 21, 2010
Netflix customer Carleen Ho poses with a Netflix movie she is picking up from her mail box in Palo Alto, Calif., Tuesday, April 20, 2010. Netflix Inc. releases quarterly earnings Wednesday, April 21, after the market close. (AP Photo/Paul Sakuma)

(AP) -- Netflix's first-quarter income rose 44 percent as the movie subscription service added 1.7 million more customers.

The results announced Wednesday are the latest evidence of Netflix's rising popularity. The service has picked up more than 5 million subscribers in the past 18 months as more households are embracing Netflix's DVD-by-mail and Internet video packages.

ended March with nearly 14 million subscribers and expects to add at least 700,000 more by July.

The company earned $32 million in the first three months of the year. Its of 59 cents per share were a nickel above the average analyst estimate.

Revenue climbed 25 percent to nearly $494 million.

Shares of the company rose 26 cents to $87.24 in extended trading Wednesday after the release of results. Earlier in the day, the closed down 9 cents at $86.98.

Explore further: Netflix branches into films with 'Crouching Tiger' sequel

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Familiar script: Netflix 2Q tops expectations

Jul 23, 2009

(AP) -- Netflix Inc.'s second-quarter profit shot past analyst expectations, following a familiar script as recession-weary consumers flocked to its DVD-by-mail and Internet streaming service.

Verizon 1st-qtr profit, revenue beat expectations

Apr 27, 2009

(AP) -- Verizon Communications Inc. said Monday its earnings grew 5 percent in the first quarter, boosted by its acquisition of Alltel Corp. and strong demand for its wireless, Internet and TV services.

Netflix adds 1.1M customers, 4Q profit up 36 pct

Jan 27, 2010

(AP) -- Netflix Inc.'s fourth-quarter profit surged 36 percent as its DVD-by-mail service surpassed 12 million subscribers, and the company announced an upbeat outlook for 2010 that sent its shares soaring Wednesday.

Qwest Communications 3Q earnings fall 6 pct

Oct 28, 2009

(AP) -- Qwest Communications International Inc. reported a 6 percent drop in third-quarter profit Wednesday as customers continue to give up traditional landline telephones.

Recommended for you

What's PayPal's first solo move?

11 hours ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

16 hours ago

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

Microsoft to tap $2-trillion Indian cloud market

20 hours ago

Microsoft announced plans Tuesday to offer its commercial cloud services from Indian data centres as it seeks to tap what it calls a $2-trillion market in the country where Internet use is growing rapidly.

User comments : 0