Netflix profit doubles on U.S., foreign subscriber growth
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(Reuters) - Netflix Inc said on Monday its quarterly profit more than doubled, boosted by strong growth in U.S. and international subscribers as a price increase for its most popular U.S. video streaming plan did not deter new users.
Netflix added 570,000 U.S. customers in the second fiscal quarter ended June 30, passing 50 million worldwide subscribers for the first time. It added 1.12 million customers in international markets. bit.ly/UnqT1D
The company's shares rose nearly 1 percent at $456.21 in after-hours trading, after the company also said it expected average revenue per user to rise slowly as it wins over more subscribers at the new prices.
http://www.reuters.com/article/2014/07/22/us-netflix-results-idUSKBN0FQ21520140722
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Good for them. They make an excellent product and really treat their customers well. I'm happy that they are doing well.
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@Reid-Cooper agreed, I'm glad to see them so successful. Although I had the thought today that in 20 years they'll be the incumbents trying to outlaw whatever the new technology is
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Netflix works hard for their money. Hopefully this means more content soon.
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I've seen a lot of new big label content recently.
