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Netflix grabbed 2 million new customers for its U.S. streaming service in Q1

Netflix's first quarter financial earnings report managed to beat analysts' expectations, and it's all thanks to the company's new original series "House of Cards."

For Q1 2013, Netflix posted $1 billion in revenue -- a 17 percent increase from a year earlier. The video streaming company also reported $19 million in net income and adjusted earnings per share of 31 cents. Analysts had previously predicted about 19 cents per share. 

Another huge plus in Q1 was subscriber growth. Netflix grabbed 2 million new customers for its U.S. streaming service, bringing the total to 29.2 million. Outside of the United States, Netflix signed 1 million new customers, bringing the worldwide total to 36 million.

Investors were pleased with the surprising results. Many had thought Netflix wouldn't continue growing fast enough to pay for all of its content from major providers like Disney and Warner Bros. 


Shares jumped to $216.62 in after-hours trade Monday after closing at $174.37 on NASDAQ. 

According to a letter to shareholders, Netflix's new original series "House of Cards" is the reason for the continued subscriber growth.

"The launch of 'House of Cards' provided a halo effect on our entire service," Netflix Chief Executive Officer Reed Hastings and Chief Financial Officer David Wells said in a letter to shareholders.

"House of Cards" is a political drama series starring Kevin Spacey. The show, which launched February 1, 2013, follows a Democrat from South Carolina's 5th congressional district who was passed up for a job as Secretary of State -- and he gets his revenge on everyone who has wronged him.

Source: Reuters



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House of Cards
By Joz on 4/23/2013 1:41:59 PM , Rating: 2
House of Cards is one of the greatest single season entertainments I've ever watched. I would propose that it is indeed one of the best shows on Netflix; and one of the best new shows in the last dozen years. Its quality of content is similar to Firefly, Dr. Who, Scrubs, and other just "great" shows. Well, it is better then Scrubs by far.

The deliver of House of Cards in acting, cinematography, plot and subtle twists is amazing to watch and listen too. I can see Netflix having a huge boost just from House of Cards itself. I do hope they do some more in-house productions on that level, if so they definitively could become a major player in the TV/Movie market quickly.

House of Cards is everything you'd want in a non-Sci-Fi, non-CSI, non-Medical series, and then some.




RE: House of Cards
By retrospooty on 4/23/2013 2:15:18 PM , Rating: 2
"House of Cards is one of the greatest single season entertainments I've ever watched. I would propose that it is indeed one of the best shows on Netflix"

Totally agreed. Spacey was absolutely at his best in this. Great show... Cant wait for the next season.


RE: House of Cards
By FITCamaro on 4/23/2013 2:19:05 PM , Rating: 2
Now they should reprise Firefly and give it to us. They'd make bank.


RE: House of Cards
By Joz on 4/23/2013 2:21:31 PM , Rating: 2
Our dreams come true, but its been stated multiple times by Joss, and others, that Firefly is never coming back :(
And this is the last season(or is it next season?) of Dr. Who :(


RE: House of Cards
By retrospooty on 4/23/2013 3:06:22 PM , Rating: 2
kickstarter campaign that puppy!


RE: House of Cards
By Joz on 4/23/2013 2:21:32 PM , Rating: 2
Our dreams come true, but its been stated multiple times by Joss, and others, that Firefly is never coming back :(
And this is the last season(or is it next season?) of Dr. Who :(


RE: House of Cards
By maugrimtr on 4/26/2013 5:09:20 AM , Rating: 2
The BBC would be mad to end Doctor Who. Where did you hear this rumour?


RE: House of Cards
By Gondor on 4/24/2013 3:48:19 AM , Rating: 2
You might want to watch the original "House of Cards" (British series) - more of the same, but with a twist due to differences in political systems :-) (monarchy and all)


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