Net profit was $32.4 million USD on revenue of $408.5 million USD. Revenue was $1 million less than expected by analysts. Notably, the company increased subscriber total to 10.6 million, a 26 percent jump year-on-year.
“We're on track for a record 2009,” said Netflix CEO Reed Hastings during a conference call. "Consumers are responding strongly to the Netflix proposition."
The proposition has been expanding of late, with the company putting serious money behind its streaming service, which now has over 12,000 titles to choose from including TV shows. Netflix has also struck deals with Sony, LG, and Samsung to bring the service to Internet-connected devices such as HDTVs and Blu-ray players.
Written by: Andre Yoskowitz @ 27 Jul 2009 0:45
