Netflix Subs Rebound in Q4
Netflix ended the year with 24.4 million U.S. subs, up from 23.8 million at the end of the third quarter.
The company posted net income of $40.7 million, or 73 cents per share, down from $47.1 million, or 87 cents per share, in the year-ago quarter, on revenues of $876 million.
Despite the earnings drop-off, investors are apparently pleased with the subscriber bounce-back and the fact that revenues beat the $857.6 million expected by analysts.
Netflix shares were up $12.59 (13.25 percent) to $107.63 in after-hours trading Wednesday.
— Jeff Baumgartner, Site Editor, Light Reading Cable