Netflix posts 3Q profit

Netflix posts 3Q profit

After half a year of lower than expected revenue reports, Netflix announced today a 23 percent increase in profits over last year. Beating analyst expectations by about $8 million, this news boost Netflix stock by 13% in after-hours trading.

Netflix Logo

Blockbuster Online has been very successful this year and it has been cutting into Netflix’s expected growth. Netflix struck back by lowering prices and engaging in more aggressive advertising and is very optimistic for the fourth quarter.

With this news, Netflix has increased expectations. I just hope they can manage another price break soon.

About Steven Kippel

Steven Kippel has worked as a systems designer for a leading high-end audio/video custom integrator in Southern California since 2003. He is responsible for researching new technologies and integrating them into existing systems and new construction projects. He has designed several high-profile systems for discriminating clients on the cutting-edge of technology. When he is not hard at work, Steven is spending time with his wife, playing with his band or promoting concerts and bands in the Inland Empire. His favorite bands include The Cure, U2, Eisley, Living Sacrifice and DragonForce.

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