Netflix shares soar as profits for Q3 quadruple

Washington, Oct. 22 (ANI): Online media streaming service, Netflix's earnings quadrupled as its subscription service attracted 1.3 million more U.S. subscribers during its latest quarter.

The third-quarter results are the latest evidence of Netflix's increasing popularity.

The company ended September with 31 million U.S. subscribers, eclipsing the estimated 29 million subscribers that HBO is believed to have

According to CBS News, the quarter covered a three-month stretch ending in September that featured the debut of two series that could only be seen on Netflix.

Netflix earned 32 million dollars, or 52 cents per share, in the quarter. That compared with income of 7.7 million dollars at the same time last year.

Revenue rose 22 percent from last year to 1.1 billion dollars.(ANI)


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