KTEP - El Paso, Texas

Netflix Reports Better-Than-Expected Earnings

Jan 23, 2014
Copyright 2018 NPR. To see more, visit http://www.npr.org/.

RENEE MONTAGNE, HOST:

NPR's business news begins with a Netflix surge.

(SOUNDBITE OF MUSIC)

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 8 million a year ago.

The company also announced it added more than 2 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.