Things are looking good for the streaming and video-on-demand company Netflix after it revealed its quarterly earnings for Q3 2013. According to the company, it had 29.9 Mn paid subscribers as of the end of September, up from 28.6 Mn at the end of June.
By comparison, the numbers have surpassed the HBO’s paid subscribers’ base of 28.7 Mn in US.
Netflix in total now has over 40 Mn members, up from less than 30 Mn an year earlier. Roughly 37 Mn of those members are paid subscribers. Netflix is also reportedly ain talks with cable companies to get its services embedded in their set-top boxes. If that happens, its total subscriber base will probably tick up even faster.
Moreover, Netflix has reported third-quarter earnings of USD 0.54 per share, beating analysts’ expectations.
It turned a profit of USD 31.8 Mn on revenue of USD 1.1 Bn. After hours trading following the report, showed the company’s stocks shared at a value of USD 400 a share.
Where Netflix on one side, has managed to get more subscribers than HBO in US, we believe that it should focus more on international markets to further expand the user base and to catch up with HBO overseas. Netflix at this time is only available in three of the top 10 broadband markets in the world (Brazil, UK and US).
Based in Los Gatos, California, Netflix is an American provider of on-demand Internet streaming media with having its services available in more than 40 countries.
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