First quarter earnings soared for Netflix thanks to the internet video service's content like the popular political drama "House of Cards."
ASSOCIATED PRESS Enlarge
SAN FRANCISCO — Netflix’s first-quarter earnings soared as another season of the popular political drama “House of Cards” helped attract an additional 2.25 million subscribers to the Internet video service.
The customer growth announced Monday mirrored management’s projections. Investors liked what they saw as Netflix’s stock surged 6 percent in extended trading after the results came out.
The performance was aided by Netflix’s increasing emphasis on exclusive programming such as “House of Cards,” an acclaimed series starring Kevin Spacey as a cunning politician with a ruthless plan to become President of the United States.
Netflix Inc. earned $53 million, or 86 cents per share, during the first three months of the year. That compared to $2.7 million, or 5 cents, last year.
Revenue rose 24 percent to $1.3 billion.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.