Netflix Subscribers Rise 73% to 2.23 Million
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Netflix Inc., the world’s largest mail-order video rental service, said its subscribers increased 73% to 2.23 million from a year earlier, and raised its third-quarter profit forecast. Its shares rose as much as 11% in extended trading.
The firm had said in July that it expected to have 2.15 million to 2.35 million subscribers by the end of the third quarter.
Netflix said third-quarter net income might rise to as high as $17.5 million. The company had previously forecast no more than $10.2 million.
Shares of Los Gatos, Calif.-based Netflix rose as much as $1.98 to $19.23 in extended trading. Earlier, they rose 92 cents to $17.25 on Nasdaq before the company announced the subscriber count.
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