Netflix shares rally as subscriptions soar

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24 January 2013 | 0

On-demand entertainment provider Netflix has posted strong financials for the fourth quarter of 2012, with a net income of $7.9 million for the quarter and $17.2 million for the year bumping the share price up nearly 40% to $142.95. Gross revenue rose from $3.2 billion to $3.6 billion.

Continued overseas expansion (including the arrival of the service in the UK and Ireland) accounted 1.8 million of the 3.8 million new subscribers added to the company’s international customer base over the year, now estimated at 33 million.

In the past year Netflix has begun provuding original content including original dramas Lilyhammer, House of Cards and a new series of sitcom Arrested Development.

TechCentral Reporters

 

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