Printed from http://www.electronista.com

Netflix passes 50 million subscribers in US, posts $212 million profit

updated 09:25 am EDT, Tue July 22, 2014

Company planning mass European expansion in September

Netflix is the latest company to release its quarterly financial results. Touting expansion to 50 million subscribers in the US, the company reports $1.15 billion in revenue from streaming, adding 1.7 million subscribers in a quarter. Profit came in at $212 million, nearly triple that of the second quarter of 2013.

Breaking down results, US streaming members accounted for $838 million of the revenue, with $307 million coming from international subscribers. US streamers drove the profitability of the company, bringing in $227 million, up from $201 million last quarter. International streaming is improving, but still costing the company money -- revenue from international customers climbed to $307 million, but reduced profit by $15 million.

The company still has some DVD-by-mail renters. Subscriptions continue to decline, with this quarter the company holding 6.3 million subscribers -- down 391,000 from last quarter. This is less pronounced a drop than last year, which had a loss of 475,000 customers.

The company is expecting to grow its international losses in the next quarter due to expansion into Germany, France, Austria, Switzerland, Belgium, and Luxembourg. The expansion will grow its potential customer base overseas by 50 percent, to 180 million -- more than twice the current possible US customers. The company claims that after the expansion in Europe, about one-third of current global broadband households will have Netflix available to them as a viewing option.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News