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January 23, 2013

Netflix reports revenues of $945m for Q4 2012

The company finished the quarter with 27.15 million US subscribers.

By CBR Staff Writer

Netflix has reported revenues of $945.23m for the fourth quarter of 2012, compared to $875.57m for the same period in 2011.

The company has also seen its subscriber base grow to over 27 million from U.S. subscribers alone.

Net income fell dramatically to $7.89m, compared to $35.21m, for the same period in the corresponding year.

Operating income declined to $19.63m for the quarter, compared to $61.87m inthe same period last year.

The company added about 10 million global streaming members last year and grew to more than 33 million members globally.

Netflix finished the quarter with 27.15 million US streaming subscribers, compared to 21.67 million subscribers it had in 2011.

"Our holiday season was particularly strong, driven by consumers buying new electronic devices, including tablets and smart TVs," said Netflix chief executive, Reed Hastings.

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The company expects for its domestic streaming contribution profit to be larger than its DVD contribution profit with an about 90% year over year in the first quarter (Q1) of 2013 and add 1.7 million members in the quarter.

For the first quarter of 2013, the company expects revenue to be in the range of $1bn to $1.03bn.

Earlier this month, Netflix signed agreements with Turner Broadcasting System and Warner Bros. Television to cover a series of new TV shows.

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