Netflix profit up 45% in Q4, nears 10 million total subscribers

Darren Murph
D. Murph|01.26.09

Sponsored Links

Netflix profit up 45% in Q4, nears 10 million total subscribers

Analysts were already anticipating a killer Q4 for Netflix, and unlike practically every other company on the face of the planet, it delivered. The movie rental firm somehow managed to see net income rise to $22.7 million in the quarter, up from $15.7 million in Q4 2007. Revenue was also up by 19 percent, and subscriber growth was pegged at an amazing 26 percent. All told, the firm ended the quarter with 9.4 million subscribers, decimating its own forecast of ending Q4 with 9.15 million customers. Of course, some (Netflix included) are quick to assert that the recession has actually boosted business, with many consumers opting to stay home and rent versus taking the family out for a pricey night at the cinema. Netflix is now projecting to end 2009 with anywhere between 10.6 million to 11.3 million customers, and given all the hardware deals it keeps landing, we don't see a reason why it won't get there. Way to buck the trend, Netflix -- we needed some bright news today.

[Via AP]
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Popular on Engadget