Print 36 comment(s) - last by maugrimtr.. on Apr 26 at 5:09 AM

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

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: Not quite
By jmerk on 4/23/2013 11:15:19 PM , Rating: 2
all ready watch all of star trek. even the animated series. Just would like to see a new series after so many years of nothing.

RE: Not quite
By FITCamaro on 4/24/2013 8:06:02 AM , Rating: 2
Yes I am definitely ready for a new Star Trek series. But I want the original Star Trek universe. Post Dominion war and destruction of Vulcan.

RE: Not quite
By Reclaimer77 on 4/24/2013 7:28:19 PM , Rating: 2
Yes I am definitely ready for a new Star Trek series.

Now this is coming from a die hard 'trekkie, but at this point I say let it die.

I don't think any talent is out there that can do justice to it as a franchise. Let's face it, Enterprise was horrid. Voyager was barely watchable. The new JJ Abrams movies are...meah, generic action shlock in a Star Trek flavored tortilla.

Every time they attempt to add to the Star Trek universe, it only tarnishes it imo.

p.s. the same goes for Star Wars.

RE: Not quite
By inperfectdarkness on 4/25/2013 8:23:58 AM , Rating: 2
Yes, the high-point of the series seemed to be DS9. If there were going to be another Star Trek series, it should focus on what made DS9 and TNG so great--character development. It would also be interesting to see it based somewhere OTHER than a human-focused or human-ran location. Perhaps another Federation world's outposts (Andorians, Tellarites, etc). Maybe even a historical show covering some of the background history of other worlds in the alpha-quadrant.

"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki