Andre Yoskowitz
24 Oct 2012 0:03
Netflix released its Q3 2012 earnings today, sending shares falling as much as 12 percent.
On the positive side, Netflix revealed it now has 25.1 million streaming subscribers in the U.S., up significantly from the 23.9 million users last quarter, and 21.5 million during the same period last year.
DVD subscribers dropped by 690,000 as it continues its trend to zero. International streaming customers also increased exponentially, from 1.5 million during the same quarter in 2011 to 4.3 million as of this quarter.
Revenue increased to $905 million, and net income came in at $8 million.
CEO Reed Hastings took time to discuss threats to their streaming service, including Amazon and HBO. The company downplayed both but did note that HBO will likely "go direct-to-consumer in the U.S., and become more of a competitor to Netflix" in the future.