Netflix Earnings: Company Adds 2.3 Million More US Subscribers in Banner 4Q

By Associated Press
|  Wednesday, Jan 22, 2014  |  Updated 6:51 PM PDT
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"Orange Is the New Black": Taylor Schilling on Dancing With Women, Success

AP

This file photo, shows the company logo and view of Netflix headquarters in Los Gatos, Calif. (AP Photo/Marcio Jose Sanchez, file)

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Netflix on Cable? Investors Tune In

Netflix shares, already red hot, soaring again monday on rumors about the Los Gatos company possibly near a deal to find its way onto cable set-top boxes, likely as an app. Scott Budman reports.

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Netflix's fourth-quarter earnings soared as the Internet video service added another 2.3 million U.S. subscribers to burnish its status as one of the world's most popular entertainment options.

The financial results announced Wednesday topped analyst estimates.

Investors, though, tend to focus more on Netflix's subscriber growth because the widening audience provides the company with the means to finance even more compelling content to show in the future.

Netflix Inc. ended December with 33.4 million U.S. subscribers, up from 31.1 million in September.

MORE: Marvel to Develop Four Original Series for Netflix

The Los Gatos, Calif. company earned $48 million, or 79 cents per share, during final three months of last year. That compared to $8 million, or 13 cents per share, at the same time in 2012.

Revenue rose 24 percent from the previous year to nearly $1.2 billion.

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