Netflix's First-Quarter Results Satisfy Investors
Netflix today reported a profit of $3 million for the first quarter of 2013, with total revenue of $1.02 billion. Revenue was up 20 percent over the same quarter of last year, when the company saw a net loss of $5 million.
Netflix today reported a profit of $3 million for the first quarter of 2013, with total revenue of $1.02 billion. Revenue was up 20 percent over the same quarter of last year, when the company saw a net loss of $5 million.
Netflix’s adjusted earnings per share for the first quarter of this year were $0.31. Its share price was up 6.73 percent in after-hours trading.
The company pointed to the success of its original series, House of Cards.
“[T]he strong viewing across all our markets gives us faith in our ability to create global content brands in a cost-effective, efficient way,” CEO Reed Hastings and CFO David Wells wrote in their letter
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