Netflix second-quarter profit growth of 34%
YORK Thursday morning news online DVD rental company Netflix Inc. Wednesday reported second-quarter profit rose 34 percent, the third consecutive month the number of customers has increased by 100 million people.
the company's second-quarter profit from last year's 32.4 million U.S. dollars, 54 cents a share, up from 43.5 million U.S. dollars, 80 cents a share.
Excluding stock-based compensation, the company posted per-share earnings of 88 cents. Sales from the 493.7 million U.S. dollars last year to grow to 519.8 million U.S. dollars.
FactSet Research survey of analysts on average had expected it to earn 76 cents per share on revenue of 524.1 million U.S. dollars.
Netflix also raised its 2010 profit, revenue and number of customers expected. The company currently expects full year earnings per share up from 2.58 to 2.86 U.S. dollars, its previous estimate of 2.41 to 2.63 U.S. dollars.
the company expected revenue from 2110 to 2160 million U.S. dollars increased to 2.14 to 2.16 billion U.S. dollars, number of customers expected from 16500000 to 1730 people increased to 17700000 to 1850 people.
stock in pre-market trading down 10.65 U.S. dollars to 109.00 U.S. dollars, down 8.90%.
