Netflix Adds 3.6 Million Customers; Earnings Soar

Apr 25, 2011 - 21:29
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Netflix Adds 3.6 Million Customers; Earnings Soar
Netflix

LOS GATOS – Netflix said its first-quarter eaings nearly doubled as its video subscription services added another 3.6 million customers.

The results announced Monday are the latest sign of Netflix Inc.'s growing clout in home and mobile entertainment.

The company ended March with 23.6 million subscribers in the U.S. and Canada, up from 20 million at the end of 2010.

Netflix charges $8 per month to stream movies and TV shows over high-speed Inteet connections. Most customers pay a little more per month so they can also rent DVDS delivered through the mail.

The formula eaed Netflix $60 million, or $1.11 per share, during the first quarter. That was up from $32 million, or 59 cents per share last year.

Revenue totaled $719 million, up 46 percent from $494 million.

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Mike Gallagher Mike Gallagher is a Georgia-based freelance journalist covering local news, community developments, and regional issues that matter most to residents across the state. Writing for Georgianewsday.com since 2016, Mike has built a reputation for clear, balanced reporting and a strong connection to the communities he serves. His work spans city council decisions, school board updates, small business features, public safety reports, and statewide policy changes. In addition to local coverage, Mike occasionally reports on state politics and national headlines, offering readers context on how broader decisions impact Georgia communities. Known for his steady, fact-driven approach, Mike prioritizes accuracy, fairness, and accessibility in every story. Whether covering a town hall meeting or breaking political developments, he aims to inform readers with clarity and integrity. Outside the newsroom, Mike remains actively engaged in Georgia’s civic landscape, always seeking the next story that shapes the state’s future.