Category: Companies / October 21, 2013 4:52 PM EDT
Netflix, Inc. (Nasdaq: NFLX) reported fiscal third-quarter earnings of 52 cents a share on revenue of $1.11 billion, compared with a profit of 13 cents a share on revenue of $905.09 million a year-ago. Wall Street had expected Netflix to report earnings of 49 cents a share on $1.1 billion in revenue, according to analysts polled by Reuters.
The online movie streaming service blew past expectations, sending shares soaring over 10 percent on the news.
“We are very pleased to have over 40 million members, up from less than 30 million just one year ago,” Netflix said in its third-quarter earnings statement.
The company added that the Netflix original series "Orange is the New Black" and "House of Cards" were both popular successes.
Looking ahead at the company’s outlook, Netflix expects earnings between 47 cents and 73 cents a share for the fourth quarter.
On Monday, shares of Netflix jumped 10.05 percent to $390.67 in extended-hours trading.
The Dow Jones industrial average fell 7.45 points or 0.05 percent, to 15,392.20. The S&P 500 gained 0.16 points or 0.01 percent, to 1,744.66. The Nasdaq Composite added 5.77 points or 0.15 percent, to 3,920.05.
Video Credit: Reuters