Source: http://www.engadget.com/2009/01/26/netflix-profit-up-45-in-q4-nears-10-million-total-subscribers/
Analysts were already
anticipating a killer Q4 for
Netflix, and unlike practically every other company on the face of the planet, it delivered. The movie rental firm somehow managed to see net income rise to $22.7 million in the quarter, up from $15.7 million in Q4 2007. Revenue was also up by 19 percent, and subscriber growth was pegged at an amazing 26 percent. All told, the firm ended the quarter with 9.4 million subscribers, decimating its own forecast of ending Q4 with 9.15 million customers. Of course, some (Netflix included) are quick to assert that the recession has actually
boosted business, with many consumers
opting to stay home and rent versus taking the family out for a pricey night at the cinema. Netflix is now projecting to end 2009 with anywhere between 10.6 million to 11.3 million customers, and given
all the hardware deals it keeps landing, we don't see a reason why it won't get there. Way to buck the
trend, Netflix -- we needed some
bright news today.
[Via
AP]
Filed under: HDTV, Home Entertainment
N! etflix p rofit up 45% in Q4, nears 10 million total subscribers originally appeared on Engadget on Mon, 26 Jan 2009 17:52:00 EST. Please see our terms for use of feeds.
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