Netflix Shares Surge On Surprise Profit

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  1. CatfishRivers

    CatfishRivers Well-Known Member

    Apr 5, 2011
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    Netflix shares surge on surprise earnings - Jan. 23, 2013 (click for full article)

    NEW YORK (CNNMoney)

    "Netflix shocked Wall Street with a surprise profit of 13 cents per share on Wednesday, as analysts were expecting a loss of the same amount for the fourth quarter.

    Shares soared 39% in premarket trading Thursday following the earnings announcement. Netflix booked $945 million in revenue in the quarter, which also topped analysts' estimates.

    Investors were pleasantly surprised by the number of new U.S. streaming subscribers. Netflix (NFLX) signed up 2.05 million in the fourth quarter, above the range the company predicted last quarter. That brings total U.S. streaming subscriber additions to 5.48 million for 2012.

    In total, Netflix now has 27.2 million U.S. streaming subscribers and another 6.1 million in global markets. Netflix's DVD-by-mail subscriptions continue to decline, falling 380,000 in the U.S. to about 8.2 million."
    Last edited: Jan 24, 2013

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