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April 26, 2011 12:14 am GMT
Netflix just released its first quarter earnings. Earnings per share were $1.11, up 88 percent (3 cents above the consensus estimate of $1.08). Revenues came in at $719 million. And Netflix added 3.3 million U.S. subscribers in the quarter, plus another 290,000 interantionally, to end at 23.6 million. The 3.6 million new subscribers is slightly below the 3.7 million analysts were hoping for, but still double the growth from a year ago. Depending on how many subscribers Comcast reports this quarter, Netflix might surpass it to become the largest entertainment subscription business in the U.S. Netflix ended the quarter with 22.8 million U.S. subscribers, exactly the same number of subscribers Comcast reported at the end of 2010.Net income was $60 million, and free cash flow in the quarter was $79, a 55 percent increase from the fourth quarter. Netflix saw a rise in domestic operating margins to 16 percent, from 14.9 percent in the fourth quarter, largely due to an increase in streaming-only subscribers and price increases on hybrid subscriptions. Margins should fall back to around 14 percent as streaming and marketing costs continue to rise (offset by declines in DVD shipping).
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/alM1iCScx_Y/
Netflix Earnings Up 88 Percent, Adds 3.6 Million Subscribers
Netflix just released its first quarter earnings. Earnings per share were $1.11, up 88 percent (3 cents above the consensus estimate of $1.08). Revenues came in at $719 million. And Netflix added 3.3 million U.S. subscribers in the quarter, plus another 290,000 interantionally, to end at 23.6 million. The 3.6 million new subscribers is slightly below the 3.7 million analysts were hoping for, but still double the growth from a year ago. Depending on how many subscribers Comcast reports this quarter, Netflix might surpass it to become the largest entertainment subscription business in the U.S. Netflix ended the quarter with 22.8 million U.S. subscribers, exactly the same number of subscribers Comcast reported at the end of 2010.Net income was $60 million, and free cash flow in the quarter was $79, a 55 percent increase from the fourth quarter. Netflix saw a rise in domestic operating margins to 16 percent, from 14.9 percent in the fourth quarter, largely due to an increase in streaming-only subscribers and price increases on hybrid subscriptions. Margins should fall back to around 14 percent as streaming and marketing costs continue to rise (offset by declines in DVD shipping).Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/alM1iCScx_Y/
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