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Miramax and Netflix are finalizing a five-year deal worth more than $100 million to stream its library of more than 700 titles.
CBS's Showtime plans to remove some of its original programming from Netflix's online video service, which is becoming more of a competitive threat to pay-TV.
Netflix cut a deal to debut a new TV series on its Internet streaming service, in a departure from how traditional TV programming is made and aired
WB announces they will stream movies through Facebook
Announcement of possible Closed Captioning for Netflix on TVs
Posted 52% increase in profits
20+ Million subscribers
Due to decreasing customer acquisition costs, NFLX reported a Q4 profit 45% higher than in its year-ago Q4.
On October 20, 2008 Netflix released its third fiscal quarter earnings results. The weak economy didn't stop Netflix from growing profits by 30% from the same quarter in 2007, but shares slipped following the release. Netflix reported approximately 8,672,000 subscribers at the end of the quarter, an increase of 23% from one year prior. Revenues for the quarter also grew from the same period in 2007, increasing 16% to $341.3 million. The company lowered its guidance for the fourth fiscal quarter based on the slowing economic conditions. Netflix shares closed down 12.4% at $20.85 the day following the release.
On August 14, 2008 Netflix experienced its most serious outage to date. The company shipped no DVDs on Tuesday the 12th or Thursday the 14th, leaving about one third of its customers without the DVDs they ordered.
On July 25, 2008 Netflix released its second quarter earnings results. The company reported revenues of $337.6M, an increase of 11% from the same period in 2007. Netflix's earnings beat analysts' expectations and shares climbed following the release.
On April 21, 2008 Netflix reported its first quarter earnings results. The company's net income rose to $13.4 million, in line with analyst estimates. However, the gross profit margin in this quarter fell to 31.7% from 36.1% in the same period of 2007. Company officials cited increased content costs as a major cause of the decreased profit margins this quarter.
The Los Gatos-based company said it earned $15.7 million, or 23 cents per share, for the three months ended September. That represented a 23 percent increase from net income of $12.8 million, or 18 cents per share, in the same period last year.
The earnings blew past the average estimate of 15 cents per share among analysts surveyed by Thomson Financial. Revenue rose 15 percent to $294 million -- about $8 million above analysts' average estimate.
Netflix reported Q2 revenue of $303.7 million; an increase of 27 percent from $239.4 million last year. The net income also increased by 50 percent to $25.6 million. The growth was primarily due to the slower sub-growth, strong gross margin and patent infringement settlement with Blockbuster. Also, the subscriber base is expected to be between 6.8-7.3 million.
NetFlix announced that they were cutting prices of major plans in response to competitive pressure from rival Blockbuster (BBI). The company lowered guidance and announced that it had lost subscribers in 2Q, the first time that it had experience a decrease in 8 years .