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NFLX » Topics » GAAP Net Income - $12.8 million, up 84 percent year-over-year

This excerpt taken from the NFLX 8-K filed Oct 23, 2006.

GAAP Net Income – $12.8 million, up 84 percent year-over-year

LOS GATOS, Calif., October 23, 2006 – Netflix, Inc. (Nasdaq: NFLX) today reported results for the third quarter ended September 30, 2006.

“In the third quarter, strong results in our key metrics – subscriber growth, revenue, net income, gross margin and churn – extended our record of outstanding financial and operational performance and, more importantly, demonstrated the power of our business model to deliver exceptional results,” said Reed Hastings, Netflix co-founder and chief executive officer. “We combine a great customer experience with low operating costs. That’s a powerful formula for success.”

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