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

  • Kevin Durant Lindsey Vonn

    Kevin Durant, Lindsey Vonn to Keynote Variety's Sports & Entertainment Breakfast

    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 […]

  • Cher and Meryl Streep'Mamma Mia! Here

    How the Cast of 'Mamma Mia! Here We Go Again' Geeked Out Around Cher

    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 […]

  • Demi MooreComedy Central's Roast of Bruce

    Demi Moore Appears as Surprise Guest at Bruce Willis' Comedy Central Roast

    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 […]

  • Outfest Filmmakers Get Political, Issue Call

    Outfest Filmmakers Get Political, Issue Call to Action on Opening Night

    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 […]

  • Bob Woodruff Foundation Acquires Veterans Org

    Bob Woodruff Foundation Acquires Veterans Org Got Your 6

    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 […]

  • Tiffany HaddishTiffany Haddish at the Hollywood

    Tiffany Haddish on Future Career Plans, Taking Advice From Tyler Perry, Melissa McCarthy

    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 […]

  • Vince Gilligan Carolyn Strauss Paley Center

    'Breaking Bad' Creator Vince Gilligan Suggests 'Maybe It's Time for Heroes Again' on TV

    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