Netflix regains 600K US subscribers in 4Q
SAN FRANCISCO (AP) - January 25, 2012 (WPVI) -- Netflix regained U.S. customers in the fourth quarter as the video subscription began to recover from a revolt against a big price increase.
Figures released Wednesday show Netflix Inc. ended December with 24.4 million subscribers in the U.S. That was 600,000 more than at the end of September.
The subscriber uptick is a positive sign for Netflix after several months of upheaval that battered its stock. Netflix lost 800,000 subscribers last summer after raising its U.S. prices by as much as 60 percent.
The company made $41 million, or 73 cents per share, in the final three months of last year. That compares with income of $47 million, or 87 cents per share, in the same 2010 period.
Revenue climbed 47 percent from the previous year to $876 million.
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