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News: General

Netflix Shares Soar on Earnings Report

Tuesday, January 20, 2015   (0 Comments)
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From HollywoodReporter.com:

Netflix added 4.33 million members worldwide in the fourth quarter, ending the year with 57.4 million, more than what Wall Street analysts expected.

Shares of Netflix were up more than 13 percent after the closing bell on Tuesday once the results were known.

The streaming-media company said it earned $83.3 million in the quarter on $1.49 billion in revenue while Wall Street was expecting Netflix to report revenue of $1.48 billion. In the year-ago quarter, Netflix earned $48.4 million on revenue of $1.18 billion...

..."It is increasingly clear that virtually all entertainment video will be Internet video in the future," CEO Reed Hastings wrote in his quarterly letter to shareholders that was released with earnings figures on Tuesday.

Hastings, as has been customary since launching the effort in 2012, boasted about the quality of Netflix's original content, which has accounted for 45 Emmy nominations, 10 Golden Globe noms and two Oscar noms.

- Read the full article at HollywoodReporter.com


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