The Wall Street Journal-20080124-Earnings Digest -- Media- Netflix Inc-
Return to: The_Wall_Street_Journal-20080124
Earnings Digest -- Media: Netflix Inc.
Online DVD rental pioneer Netflix Inc. said its fourth-quarter profit rose 6.2% as subscribers increased by 18% to 7.48 million from 6.32 million a year earlier. Churn, or the rate of subscriber cancellations, was 4.1%, compared with 3.9% in the year-earlier quarter and 4.2% in the third quarter of 2007. Netflix is facing stiff competition from a growing movie-download business by Amazon.com Inc. and Apple Inc. as well as its main rival, Blockbuster Inc. Netflix recently gave subscribers the benefit of unlimited streaming of about 6,000 movies and television episodes on their computers, for no additional fee. Netflix now sees 2008 per-share earnings of $1.12 to $1.24 on revenue of $1.3 billion to $1.35 billion.
