The online streaming service's profit rose more than it predicted, and its outlook for earnings to kick off 2014 is rosy too. January 22, 2014 1:10 PM PST Netflix CEO Reed Hastings spoke about the company's partnership with LG's Smart TVs at CES earlier this month. (Credit: Sarah Tew/CNET) Netflix's profit surged again in the fourth quarter to $48.4 million, as it added more than 4 million subscribers -- at the high end of what the company predicted. It ended the quarter with more than 44 million subscribers, and expected that number to reach 48 million by the end of March. Shares in the company rose 15 percent to $382.48 after hours on Wednesday as its outlook for profit in the current quarter beat Wall Street views. The stock rocketed higher last year, tripling in value, but so far in 2014 it had dropped about 9 percent through the close. This is a developing story, and CNET will update.
Wednesday, January 22, 2014
The online streaming service's profit rose more than it predicted, and its outlook for earnings to kick off 2014 is rosy too.
January 22, 2014 1:10 PM PST
Netflix CEO Reed Hastings spoke about the company's partnership with LG's Smart TVs at CES earlier this month.
(Credit: Sarah Tew/CNET)
Netflix's profit surged again in the fourth quarter to $48.4 million, as it added more than 4 million subscribers -- at the high end of what the company predicted.
It ended the quarter with more than 44 million subscribers, and expected that number to reach 48 million by the end of March.
Shares in the company rose 15 percent to $382.48 after hours on Wednesday as its outlook for profit in the current quarter beat Wall Street views. The stock rocketed higher last year, tripling in value, but so far in 2014 it had dropped about 9 percent through the close.
This is a developing story, and CNET will update.
