Boston, MA 10/22/2013 (wallstreetpr) – The company posted dream results for the third quarter ending September 30, 2013. The company has been having a dream run last quarter and has happily posted revenues of $11.1 billion as compared to 2012’s $905 million. The EPS value increased to $0.52 which is 4 times more than that of last year’s $0.13. The net operating income stood at $57 million with net income resulting in $32 million.
Main reason for the surge
The trade analysts give a total thumbs up to invest in the company assuring that the steaming video giant is definitely on its way to posting another strong quarter. The main reason for the dream run this quarter is the increase in subscribers from 30 million to 40 million in one year. Now they are a huge network of 40 million subscribers based in 41 countries enjoying a new way of watching TV.
Netflix as a company incurred heavy losses with its DVD business. It has finally found its working strategy with the cable business and is surging forward with it. Without just being a content steaming service, now it has also producing its own original content and steaming the same. The high quality f Netflix’s own shows are providing a tough competition for the other production houses. Slowly but steadily Netflix has entered the media market and is snatching customers from everywhere. So much so that it is now capable to overtaking the HBO cable and satellite television network.
Shares surge ahead unbelievably
The market share price of the company increased to $21.49, which is a 6.44% increase. The market started at $342.92 and finished at $355 per share. Comfortable enough for its new investors the company’s share price was only around $321 on Tuesday and Wednesday. It was only on Thursday the prices started shooting up and after the announcement of the Q3 results the share price is poised to shoot up even more. This shows the trust of investors on the potential growth of the company in future due to its domestic penetration.
