Netflix profits up on subscriber growth

Fri Jul 25, 2008 12:15pm BST
 
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NEW YORK, July 25 (Reuters) - U.S. online DVD rental company Netflix Inc (NFLX.O) on Friday posted higher quarterly profits, buoyed by a 25 percent jump in subscribers.

Net income rose to $26.6 million, or 42 cents per share, from $25.6 million, or 37 cents per share, in the year-ago period.

Second quarter revenue was $337.6 million, up 11 percent from $303.7 million a year earlier.

Netflix added 168,000 net subscribers in the period from a year ago, and ended the second quarter with 8.4 million total subscribers. (Reporting by Franklin Paul; Editing by Derek Caney)

 

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