Netflix posted its financial results for the first quarter of 2012 after the bell on Monday. The company reported a loss of $0.08 per share, or$5 million, on $870 million in revenue, beating analysts’ consensus. Netflix posted a profit of $1.11 per share on $719 million in revenue in the first quarter last year, and Wall Street was expecting a loss of $0.27 per share on $866 million in sales this past quarter. All eyes were on Netflix’s subscriber additions this quarter, and the company said it added nearly 3 million streaming customers in the first quarter, including 1.21 million international streaming subscribers. The company shed more than one million DVD rental subscribers in the U.S. after losing 2.76 million DVD subscribers in the fourth quarter. Netflix’s global streaming subscriber count now sits at more than 26 million, up from 24.4 million at the end of the fourth quarter. In the second quarter, Netflix expects a net loss of between $6 million and $8 million as domestic streaming subscriber totals reach between 23.6 million and 24.2 million, below the Street’s estimates of 24.5 million. Shares of Netflix stock tumbled nearly 15% in after-hours trading on Monday following the release of the company’s earnings report.


Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.