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Netflix Generated $870 Million In Revenue In Q1
Things have been bitter sweet for Netflix in the past year or so and its latest set of earnings results have lived up to that trend precisely.
The streaming movie and DVD rental company was expected to make losses of $0.27 per share on revenues of $866 million for the first quarter of 2012, but Netflix beat expectations and only made losses of $0.08 per share on earnings of $870 million. The better performance not only from a revenue perspective has helped establish a different future for Netflix. It was only mid-2011 that Netflix announced an increase in subscription rates—an announcement that saw over 1 million subscribers leave the service.
Despite the losses which in dollar value amounts to little over $5 million, the company has seen improvements in its overall subscriber numbers. Netflix is reporting an increase in its overall subscriber base of 3 million, 1.21 million of which are international subscribers. Clearly from these numbers Netflix is far from being dead in the water. International growth is always a solid way to scale any business these days because emerging markets like Brazil is ripe for the picking.
As one onlooker commented: “So much for all those “outraged customers” cancelling their accounts en masse. I can’t believe the Internet would jump to conclusions like that and not follow through!”
Are you still a Netflix subscriber? Let us know why you stayed on in the comments below.