August 15, 2008 |
Netflix Inc.'s DVD queue just got longer -- much longer. The DVD rental service is suffering through its biggest-ever shipping problem. Netflix on Thursday said "severe technical issues" had prevented it from shipping the awaited TV shows and movies to about 2.8 million subscribers, or one-third of its members. Analysts say the Los Gatos, Calif.-based company has built up such a loyal following that few of its subscribers are likely to abandon it if the problem doesn't linger for too long.
July 26, 2008 |
Netflix Inc.'s second-quarter profit crept up 4%, beating analyst expectations as the online DVD rental service signed up 168,000 new customers while spending less money to attract them to the service. The company said Friday that it earned $26.6 million, or 42 cents a share, up from $25.6 million, or 37 cents, in the same quarter a year earlier. The average earnings estimate among analysts surveyed by Thomson Financial was 40 cents a share. Revenue climbed 11% to $337.6 million to match analyst estimates.
January 24, 2008 |
Netflix Inc.'s fourth-quarter profit soared past analyst expectations as the online DVD rental service gained 451,000 customers, providing further evidence that the company had regained the upper hand in its bruising battle with rival Blockbuster Inc. The Los Gatos, Calif.-based company said Wednesday that it earned $15.8 million, or 24 cents a share, for the final three months of 2007, up 6% from $14.9 million, or 21 cents, a year earlier. Revenue climbed 9% to $302.4 million from $277.
January 15, 2008 |
Netflix, seeking not to be bypassed in the transition to digital distribution of movies, removed limits on how many films and TV shows subscribers can watch over the Internet. The move comes as Apple Inc. is set to unveil plans for users to rent major Hollywood movies online through its iTunes Store. Netflix, which pioneered the online movie rental business in 1997, had capped the number of hours available to its 7 million subscribers based on the price of their monthly plan.
January 6, 2008 |
DVD-by-mail service Netflix Inc. will begin delivering movies and other programming directly to televisions later this year through a set-top box that will pipe entertainment over a high-speed Internet connection. The box, to be made by LG Electronics Inc., is designed to broaden the appeal of Watch Instantly, a year-old streaming service that Los Gatos, Calif.-based Netflix provides to its 7 million subscribers at no additional cost. LG didn't reveal how much the box would cost. Similar devices made by Apple Inc. and Vudu Inc. cost $299 to $399.
July 24, 2007 |
Netflix Inc., the largest online DVD rental company, reported its first-ever quarterly drop in subscriptions and missed Wall Street revenue targets in the face of fierce competition from Blockbuster Inc. The company also cut its forecasts for subscribers, revenue and profit for the year Monday. Netflix stock closed the regular trading session 12% lower after the company cut prices on two of its subscription plans, then fell 4.5% further in extended trading.