Profits pump Netlfix

Netco stock rises after profits surge

Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand.

Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s biz.

Earnings rose to $12.8 million from $6.9 million. Revenue soared 48% to $256 million as the company saw its subscriber count climb 58% to 5.6 million at the end of the third quarter.

Company also raised its revenue forecast for the fourth quarter and full year, and shares popped 18.59% to close at $4.29.

Subscriber acquisition costs, a key metric, rose to $45.32 per new sub from $36.33 a year earlier. Churn — how many subs cancel the service — eased to 4.2% from 4.3%.

For $17.99 a month, consumers can rent three DVDs at a time as often as they wish from a library of more than 50,000 titles.

More Scene

  • 'Bright' film premiere

    Will Smith Discusses 'Bright's' Racial, Social, Allegorical Undertones

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

  • 'Pitch Perfect 3' film premiere

    Elizabeth Banks, Rebel Wilson Celebrate Women's Empowerment at 'Pitch Perfect 3' Premiere

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

  • Holiday Soul Party

    Lena Waithe on Inclusive Storytelling: 'There's Still a Long Way to Go'

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

  • 'Jumanji: Welcome to the Jungle' film

    Dwayne Johnson, Kevin Hart's 'Jumanji' Maintains 'Soul' of Robin Williams Original

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

  • John Cena Ferdinand

    'Ferdinand' Director on Why John Cena Was Perfect for Title Role

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

  • Asian-American Unforgettable Awards 2017

    'Westworld's' Leonardo Nam Says Seeing Asian Actors in ‘Star Wars’ ‘Feels Normal’

    Netflix stock surged more than 18% Tuesday on news that profits nearly doubled last quarter as the homevid pioneer holds its own — at least for now — against rivals like Blockbuster, movie downloads and video-on-demand. Wall Streeters are still waiting to see the impact a new movie-download service from Amazon.com will have on Netflix’s […]

More From Our Brands

Access exclusive content