Netflix Q3 Earnings: $905M Revenue, 1.16M New Domestic Subscribers
Facebook’s not the only company reporting their Q3 earnings today, as Netflix just put out their quarterly summary.
Revenue is $905 million, up from $889 million in Q2 2012 and up $83 million year-over-year. Their reported earnings per share were $0.13, down from $1.16 at Q3 of 2011. Net income is $8 million, up from $6 million last quarter but down from $62 million in Q3 2011.
As far as subscribers go, Netflix reports 25.1 million domestic streaming members in Q3, which is a 20% increase year-over-year. Still, Netflix only added 1.16 million subscribers in Q3, which brings their yearly total to just over 3.2 million new domestics. Netflix forecast that they would add 7 million domestic subscribers in 2012, so that have to more than double their signups made during the first three quarters to meet that goal. Of course, Netflix does see a boost in new members during the holidays.
“While we are not growing membership as fast as in 2010, we think that over time nearly all U.S. households will be broadband households, nearly all video will be Internet video, and that as our content and member experience continue to improve faster than competitors, our long-term domestic market opportunity remains 2-3x that of linear HBO,” says the company in their letter.
Here’s their summary results, from their letter to shareholders:
As far as international subscriptions go, Netflix added 690,000. The company just completed a big push into Scandinavia last week by launching in Sweden, Denmark, Norway, and Finland.