For the quarter ending December 31, Netflix (Nasdaq:NFLX) earnings grew 6 percent, reaching $15.8 million, or 24 cents a share. That's an increase over the same quarter last year, which yielded $14.9 million, or 21 cents a share.
Overall revenue for the same period increased to 302.4 million, about $25 million over the $277.2 million in last years fourth quarter.
Good news for the company in the quarter was subscriptions grew to around 7.5 million, an 18 percent increase year-over-year, while they were able to slash operating expenses by about $7 million, to fall to $82.2 million. That's a 7.8 percent decrease.
This exceeded analysts' expectations, as they were looking at $301.7 million in revenue and 14 cents a share.
Netflix gave guidance for the first quarter, projecting revenue to grow to between $323 million to $328 million, and earnings to be somewhere between 13 to 21 cents a share.
It is good news to hear this because they have been waging a very uphill battle to stay in the black.
Posted by: Scogostology | January 24, 2008 6:12 AM | Permalink to Comment