Filed under: After the bell, Major movement, Earnings reports, Good news, Netflix, Inc. (NFLX)

Poor Netflix (NYSE: NFLX). It’s waging a constant and ferocious battle for customers with Blockbuster (NYSE: BBI), and its earnings report has to compete with the biggest company out there right now. But its service has always been nothing short of outstanding for me, so I thought I’d throw the online DVD-rental giant a little love.

After the close, NFLX said its third-quarter profit jumped 23% from year-ago levels, hitting $15.7 million, or 23 cents per share. Revenue was also on the move, rising 15% to $294 million. These headline figures were above analysts’ estimates for per-share results of 15 cents on revenue of $286.5 million. The numbers also topped Netflix’s own predictions for earnings of 11 to 19 cents on $284 million in sales. The total number of subscribers to Netflix services moved up 24% during the reporting period to nearly 7 million, from 5.7 million last year. Adjust your Netflix-friend lists accordingly.

Continue reading Netflix (NFLX) earnings power shares higher

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This entry was posted on Tuesday, October 23rd, 2007 at 6:01 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.