Netflix Profits Fall Less Than Anticipated
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Netflix Inc., the largest provider of movie rentals via the mail, said fourth-quarter profit fell less than analysts anticipated as the company added subscribers. The company forecast an increase in first-quarter profit.
The stock jumped as much as 9%. Revenue increased 44% to $277.2 million, the company said yesterday in a statement. Net income declined 61% to $14.9 million, or 21 cents a share, beating the average analyst estimate of 15 cents.
