Netflix now America's biggest video service provider
April 25th, 2011
09:41 PM ET

Netflix now America's biggest video service provider

Some highlights from the day's business news:

7% of Americans subscribe to Netflix

Netflix knocked over a new milestone Monday: It now has more subscribers than the largest cable TV operator in the U.S.

Netflix's global subscriber base grew almost 70% over the past year, to 23.6 million users. With that audience, it dethroned Comcast as the country's biggest provider of subscription video content. More than 7% of Americans now subscribe to Netflix.

Those details came out Monday in Netflix's first-quarter report, in which the company reported earnings of of $60.2 million, or $1.11 a share. That's up from $32 million, or 59 cents a share, a year ago.

Revenue rose 46% to $719 million. Both figures topped Wall Street estimates, but shares fell 2.5% in after-hours trade on light forecasts for the second quarter.

Stocks end mixed amid investor caution

U.S. stocks ended mixed Monday, with technology shares rising modestly, amid a pause in the flow of corporate results and ahead of a statement from the Federal Reserve later this week.

In the commodities market, gold and silver prices held gains but closed off session highs. Oil held near $112 a barrel.

The Dow Jones industrial average fell 26 points, or 0.2%, to 12,479. The S&P 500 slipped 2 points, or 0.1%, to 1,335. But the Nasdaq Composite bucked the trend, rising nearly 6 points, or 0.2%, to 2,825.

Stocks retreated after the Dow ended last week near a 3-year high on a batch of strong corporate earnings.

- CNNMoney.com reporters Julianne Pepitone and Ben Rooney contributed to this report.

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Filed under: Business • Economy
soundoff (42 Responses)
  1. The Dude

    @outsider: Sorry man I'm outta here asap. You keep your idiot misfits have fun with that. If you're making Big Lebowski references I've never seen the movie. It means something else. I've had my fill of ta-rds and misfits though. Thanks. Keep you're head up. I aint mad at cha.

    April 26, 2011 at 2:32 pm | Report abuse |
  2. Satan

    @The Dude: There's nothing wrong with the clap or herpes. It allows me to humiliate someone in my own little mad hatter way 🙂 Nothing like encouraging bad behavior then blaming the infected person while claiming it was God's wrath! Ahahaha... Figured you out you wear a mask called counterfeit figured you out you wear a mask.... Haccckkk spit!

    April 26, 2011 at 2:57 pm | Report abuse |
  3. Outsider (Jorma)

    @The Dude,

    Didn't mean offense about the Lebowski thing and sorry about that. I probably won't be sticking around either, may observe now and then.

    I like you Bro and hope things go cool for you. I didn't think you were mad at me and I have zero reason to be mad at you. I agree with you Dude!

    April 26, 2011 at 4:51 pm | Report abuse |
  4. Jazzzzzzzz

    On Topic: I have Netflix and love it. I usually end up falling asleep cause my computer is in my bedroom. Very wide selection but some of them you have to mail order.

    April 26, 2011 at 6:02 pm | Report abuse |
  5. Cesar

    @Outsider 10:46: I'm gonna take your advice and relax. I'm at White Castle sitting and eating at the entrance so that I'm the first thing people see when they come in.

    April 26, 2011 at 7:26 pm | Report abuse |
  6. banasy

    Sliders! Yum!

    April 26, 2011 at 9:55 pm | Report abuse |
  7. johnnieg

    What is the name of the Net Flex original movie 2/1 13

    January 23, 2013 at 3:49 pm | Report abuse |
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