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House of Cards Pays Off: Netflix Beats Q1 2013 Estimates, Reports $1.02B in Revenue

by Todd Haselton | April 22, 2013April 22, 2013 1:25 pm PDT

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Netflix posted its first quarter 2013 earnings on Monday and beat Wall Street estimates. The company reported revenue of $1.02 billion, dead on with estimates, but earnings per share of $0.31 beating estimates of $0.20 earnings per share.

The company said it added 3 million new streaming members—2 million of which are U.S. residents—during the quarter and that it now serves a total of 36 million streaming customers. It also serves 8 million DVD customers, although that figure fell during the quarter. That batch of users watched more than 4 billion hours of streaming content, the company said.

“As we continue to focus on exclusive and curated content, our willingness to pay for non-exclusive, bulk content deals declines,” the company said, noting the popularity of its original House of Cards series. Shares of the company were up 19.72 percent in after-hours trading at the time this article was written.


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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