The market is popping champagne corks over Netflix’s latest earnings report. A day after the company delivered boffo results and beat Street expectations for the first quarter, its stock has soared by some 25 percent. Among the goodies in Monday’s report: Netflix posted net income of $3 million, compared with a loss of $5 million a year ago. Profits were 31 cents a share, far more than analysts’ expectations of 20 cents. It signed up more than 2 million new U.S. streaming subscribers in the first quarter, compared with 1.74 million in Q1 a year ago.
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Netflix Plays Its Q1 Cards Right
Posted by: Erika Morphy April 23, 2013 10:49 AMThe market is popping champagne corks over Netflix’s latest earnings report. A day after the company delivered boffo results and beat Street expectations for the first quarter, its stock has soared by some 25 percent. Among the goodies in Monday’s report: Netflix posted net income of $3 million, compared with a loss of $5 million a year ago. Profits were 31 cents a share, far more than analysts’ expectations of 20 cents. It signed up more than 2 million new U.S. streaming subscribers in the first quarter, compared with 1.74 million in Q1 a year ago.