Netflix's 2Q earnings fall 91 pct as growth slows - 13 WTHR Indianapolis

Netflix's 2Q earnings fall 91 pct as growth slows

Posted: Updated:
SAN FRANCISCO -

Netflix says its second-quarter earnings plunged 91 percent amid a slowdown in subscriber growth.

The lower profit reported late Tuesday follows a rare loss for Netflix during the opening three months of the year.

In the latest quarter, Netflix Inc. added 1.1 million worldwide subscribers to its service that streams unlimited video over TVs and other Internet-connected devices for $8 per month.

The second-quarter subscriber gains were in line with management predictions, but analysts had hoped for more. They were well below the nearly 2 million customers picked up at the same time last year.

Netflix earned $6.2 million, or 11 cents per share, in the quarter. That compared with $68 million, or $1.26 per share, a year ago.

Revenue rose 13 percent to $889 million to match analyst estimates.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.