Mixed news on Netflix earnings

While Netflix saw its net income take a hit in the fourth quarter, the news wasn’t all-bad. Netflix2

The company beat estimates and more importantly saw its streaming business grow, despite a series of events in 2011 that were one PR disaster after the next.

The company reports it added 220,000 new domestic streaming customers during the period, bringing the total to 21.67 million. Internationally, it netted 380,000 new customers, bringing that total to 1.86 million.

The outlook for the first quarter of 2012 is rosy as well, with the company projecting a 1.7 million customer increase in its streaming operations.

DVD subscriptions continue to suffer, though, with 2.76 million people canceling their service with the company. At present, 11.17 million people are still subscribing to the DVD by mail program.

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  1. Guya says:

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