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Technology / Networks

Netflix reports rise in Q2 profit and revenue

Netflix has posted a net income of $29.5m for the second-quarter ended 30 June 2013, compared to $6.1m for the same period last year.

During the quarter, revenues increased by 20% to $1.07bn, while pay subscribers grew to more than 36 million with 29.8 million in the USA and 7.7 million worldwide.

Netflix has added 2.7 million subscribers this year, up from 2.5 million subscribers it added at the same time last year.

Netflix CEO Reed Hastings said that the company is generating steady growth in members, revenue, and contribution profit.

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"Our content mix, streaming and user experiences are all getting better and devices and bandwidth are improving. Countering this, competitors for consumer attention are also all improving, and the risk of US market saturation only grows as we do," Hastings said.

"Given these competing forces, we are very happy this year to be tracking slightly ahead of prior year in terms of net additions."

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.