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Netflix Reports Better-Than-Expected Earnings

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Netflix Reports Better-Than-Expected Earnings

Business

Netflix Reports Better-Than-Expected Earnings

Netflix Reports Better-Than-Expected Earnings

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  • <iframe src="https://www.npr.org/player/embed/265195784/265195785" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The video streaming company's shares spiked more than 17 percent Wednesday during after-hours trading. The company also announced it added more than 2 million subscribers during the fourth quarter.

RENEE MONTAGNE, HOST:

NPR's business news begins with a Netflix surge.

(SOUNDBITE OF MUSIC)

MONTAGNE: The video-streaming company's shares spiked more than 17 percent yesterday during after-hours trading. That's thanks to better-than-expected fourth quarter results. Netflix reported a net income of $48 million for the last quarter of 2013 - up from 8 million a year ago.

The company also announced it added more than 2 million subscribers during that time. Now, nearly 32 million Americans subscribe to the online video service, beating out the premium network, HBO, which has an estimated $29 million.

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