Despite the brouhaha last year over Netflix splitting its streaming and DVD rental services, effectively doubling the cost of having both, the company posted better than expected Q4 results this week.
Netflix needed the boost. It saw its stock price slide 60 percent after the price hike and a failed attempt to split itself into two companies last year.
But Netflix earned revenue of $876 million in Q4, compared with $596 million in the same period the year before, although net earnings actually dropped to $41 million or 73 cents a share compared with $47 million and 87 cents a share a year ago.
Despite a loss of 800,000 subscribers in Q3, the company saw Q4 subscriber numbers rise to 24.4 million, up from 23.7 million last year.
The company faces competition from Amazon, Hulu, and other streaming video sources.
We find Netflix particularly useful to watch those novelistic TV series, especially when they’re available to stream. We caught Downton Abbey, Spartacus, and a bevy of older BBC productions that way.
You can hear Marc Randolph, co-founder of Netflix, at the upcoming Southeastern Venture Conference, Tysons Corner, VA, Feb. 29-March 1.
- Future looks challenging for Netflix, survey says
- Streaming only users up 72 percent at Netflix
- About a third of U.S. consumers used Netflix once a month
- Streaming online: can’t get no satisfaction (infographic)
- Netflix CEO Reed Hastings apologizes for handling of price increase (video)
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