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: How smart are the mobile shoppers who use smartphones?

0 shares

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

How smart are the mobile shoppers who use smartphones?

13 hours ago

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

14 hours ago

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

Apple wins patent appeal in China

18 hours ago

Apple has won an appeal in China over patent rights to voice recognition software such as the iPhone's "Siri", with a court overruling an earlier decision that had gone against the US technology giant.

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.