Rumors of Netflix’s (NFLX) unprofitability have been widely exaggerated, as the company on Wednesday reported a profit of $0.13 per share on revenues of $945 million in the fourth quarter of 2012 while also adding 2 million new subscribers. Netflix’s earnings were a pleasant surprise for the subscription-based content distributor, which was expected to post a quarterly loss of $0.12 per share. What’s more, the firm’s 2 million new subscribers represent nearly a ten-fold increase from the fourth quarter of 2011, when it added just 220,000 new subscribers.
Netflix adds 2 million more subscribers, turns surprise profit
Published Jan 23rd, 2013 6:18PM EST
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
