Netflix Posts Surprisingly Good Quarterly Results
January 24, 2013 12:11 PM
comment(s) - last by
Netflix surprises Wall Street
Streaming video company Netflix recently posted its financial results for Q4 2012. Netflix had a very strong quarter adding nearly four million new customers in the United States and abroad. The company's results were better than expected on Wall Street, sending stock prices soaring (the stock is currently
up over 37 percent to $142
One reason analysts and Wall Street investors were so surprised by Netflix's quarterly results was because three months ago the company had issued a letter to shareholders warning that it expected to see a loss for the fourth quarter.
believes that Netflix underestimated the impact that incredibly robust sales of tablets, smartphones, and smart TVs would have over the holiday shopping season. The huge numbers of new devices meant a significant number of new signups for the streaming video service.
Netflix reported $8 million in net income for Q4 2012 or $.13 per share. Revenue rose 8% to a total of $945 million compared to the same quarter of the previous year.
The company also says that it expects to add 1.7 million new members during the first quarter of 2013. However, Netflix is predicting "relatively flat" net income for the quarter due to declining DVD profits and increased operating costs globally.
Analysts on Wall Street had expected Netflix report quarterly loss of $.13 per share. Full-year income for Netflix in 2012 was $17 million, a 92% decline from the previous year when Netflix reported $3.6 billion in full-year income. The massive decline is blamed on increasing costs (mainly the costs of purchasing movie/TV show streaming rights from studios).
its new AirPlay rival, DIALservice, in cooperation with YouTube.
This article is over a month old, voting and posting comments is disabled
1/24/2013 12:58:18 PM
Netflix is a middleman; they almost always get squeezed badly.
"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation
Netflix, YouTube Work Together on AirPlay Rival "DIAL"
January 23, 2013, 3:01 PM
India Could Rock Google With Its Biggest Antitrust Fine Yet -- $5B USD
March 10, 2014, 8:12 PM
Apple Releases iOS 7.1, The First Major Update to Its "Rethought" Mobile OS
March 10, 2014, 1:52 PM
BlackBerry CEO Jokes that iPhone Users are "Wall Huggers"
March 10, 2014, 12:20 PM
Average Mobile Phone Bill in U.S. is Growing Despite Competition
March 10, 2014, 10:25 AM
Aussie Tried to Drop Drugs into a Prison Using an Aerial Drone
March 10, 2014, 9:32 AM
Quick Note: New Generation HTC One (M8) Photos Turn Up on Weibo
March 10, 2014, 9:04 AM
Most Popular Articles
Bitcoin King Pt. II: Mt. Gox's Dictator Karpelès Proves Tragically Flawed
March 7, 2014, 1:12 PM
Bitcoin King: Mt. Gox CEO Mark Karpelès' History of Arrests, Firings
March 5, 2014, 9:05 AM
USAF Moves Forward With Long Range Bomber Program Despite Budget Crunch
March 4, 2014, 9:44 AM
Windows 8.1 Update 1 Leaked Early
March 7, 2014, 9:30 AM
Apple Won't Let UK Sons Unlock Their Deceased Mother's iPad
March 6, 2014, 12:44 PM
Latest Blog Posts
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information