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Netflix Q3 results better than expected

2013-10-22 08:46:00| Telecompaper Headlines

(Telecompaper) Netflix reported third-quarter results better than expected, growing its customer base to over 40 million. In the US, the streaming video service added 1.29 million net subscribers for a total 31.09 million, better than the company's outlook for 30.90 million. On its international markets, Netflix gained 1.44 million new customers for a total 9.19 million, also higher than 8.65 million forecast. The company attributed the growth to expansion in the Nordic and Netherlands, as well as an increase in customers taking its free trial in Latin America. Netflix posted revenue of USD 1.106 billion, up from USD 905 million a year earlier, and EPS improved to USD 0.52 from USD 0.13, ahead of its outlook of USD 0.43. Free cash flow was a positive USD 7 million. For the fourth quarter, Netflix forecast net customer adds of 2.01 million in the US and 1.31 million abroad, Revenues and profitability are expected to improve in both areas, leading to EPS of around USD 0.60.

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