MacNN Forums (http://forums.macnn.com/)
-   Tech News (http://forums.macnn.com/tech-news/)
-   -   Netflix gains subscribers, posts fourth-quarter profit (http://forums.macnn.com/113/tech-news/497480/netflix-gains-subscribers-posts-fourth-quarter/)

 
NewsPoster Jan 23, 2013 08:13 PM
Netflix gains subscribers, posts fourth-quarter profit
Just before Apple's <a href="http://macnn.com/rd/277875==http://www.macnn.com/articles/13/01/23/company.rearranges.presentation.of.figures/" rel='nofollow'>blockbuster results</a>, media streaming company <a href="http://macnn.com/rd/277876==http://www.netflix.com" rel='nofollow'>Netflix</a> announced a modest profit for the fourth quarter of 2012. The company reported $945 million in revenue, which generated $8 million in profit. Additionally, 27 million streaming subscribers were added in the US, more than two million than the previous quarter.<br />
<br />
Netflix's overseas prognosis remains poor. The company reports having added two million new customers, but expects to continue to lose money in that segment. Overall, the company exceeded both Wall Street's estimates, as well as its own.

Regarding Carl Icahn's <a href="http://macnn.com/rd/277874==http://www.electronista.com/articles/12/10/31/report.fuels.netflix.takeover.speculation.by.micro soft.others/" rel='nofollow'>purchase of stock</a> in 2012, possibly to take over the company, the quarterly report claimed that the company has "no further news about his intentions, but [has] had constructive conversations with him about building a more valuable company." Icahn's stake in the company has more than doubled in value since the purchase, to nearly $700 million dollars.

First quarter estimates were provided, with the company expecting similar results. Results are expected to be in the range of zero to $14 million profit, but not expecting a loss.
 
All times are GMT -5. The time now is 08:16 AM.

Copyright © 2005-2007 MacNN. All rights reserved.
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.


Content Relevant URLs by vBSEO 3.3.2