New U.S. subscribers lift Netflix fourth-quarter profit

Reuters News
Posted: Jan 22, 2014 4:07 PM

LOS ANGELES (Reuters) - Netflix Inc reported higher profit for the fourth quarter as the company added 2.3 million customers to its TV and movie streaming service in the United States, sending its shares up 15 percent in after-hours trading.

The company on Wednesday reported net income of $48 million for the quarter, up from $8 million a year ago. Earnings-per-share were 79 cents, Netflix said in a statement.

Netflix shares rose more than 15 percent to $385.61 in after-hours trading, close to the all-time intraday trading high of $389.16 the stock hit in October.

The company had previously forecast it would add between 1.6 million and 2.4 million new U.S. streaming customers, a closely watched barometer of the company's growth.

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In international markets, Netflix added 1.7 million members. It ended 2013 with more than 44 million customers worldwide.

(Reporting by Lisa Richwine; editing by Andrew Hay)