Latest in 2012

Image credit:

Netflix Q3 2012 earnings: 2 million more streaming subscribers worldwide, $8 million net income

4 Shares
Share
Tweet
Share
Save

Sponsored Links

Netflix saw a return to profitability and more than half a million new US subscribers in the second quarter of this year, and it's now announced that it's added a full two million more streaming members worldwide for the third quarter. That brings the company's global base of streaming subscribers to 29 million, 25.1 million of which are in the US. It's also announced another bump in profits to $8 million in net income, with global revenue of $905 million. It's unsurprisingly a different story when it comes to DVD subscriptions in the US, however, with the company reporting a drop from 9.24 million total subscribers in Q2 to 8.61 million in Q3.

In terms of usage, Netflix says that its streaming members have now consumed over three billion hours of content, and that TV shows now account for about two thirds of that viewing activity. The company has also reiterated its commitment to original programming in its letter to shareholders, although it notes that commitment comes with some front-loaded expenses that will result in negative free cash flow for the next "several quarters" beginning with Q4. The company further adds that it believes "investment in originals is wise, and we will evaluate the performance of the slate next year to determine at what level we should fund additional original." You can find the full letter and all the numbers at the source link below.

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.
Comment
Comments
Share
4 Shares
Share
Tweet
Share
Save

Popular on Engadget

Engadget’s guide to Home Entertainment

Engadget’s guide to Home Entertainment

View
US says digital assets are covered by money laundering and disclosure laws

US says digital assets are covered by money laundering and disclosure laws

View
San Francisco's proposed office would prevent 'reckless' tech rollouts

San Francisco's proposed office would prevent 'reckless' tech rollouts

View
Porsche's Macan EV will fully replace its gas counterpart in a few years

Porsche's Macan EV will fully replace its gas counterpart in a few years

View
Crowdfunded case will give your Windows PC that Mac Pro look

Crowdfunded case will give your Windows PC that Mac Pro look

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr