Thu January 23, 2014
Netflix Reports Better-Than-Expected Earnings
RENEE MONTAGNE, HOST:
NPR's business news begins with a Netflix surge.
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MONTAGNE: The video streaming company's shares spiked more than 17 percent yesterday during after-hours trading. That's thanks to better-than-expected fourth-quarter results. Netflix reported a net income of $48 million for the last quarter of 2013 - up from eight million a year ago.
The company also announced it added more than two million subscribers during that time. Now nearly 32 million Americans subscribe to the online video service, beating out the premium network, HBO, which has an estimated $29 million. Transcript provided by NPR, Copyright NPR.