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. TvNYC

    Netflix is great but dish network, which owns blockbuster Inc now may interfere with their business. Piece of advice netflix, expand internationally. I know I'm a genius but you don't have to tell me nor like me. Mwahahahahaha

    April 25, 2011 at 9:50 pm | Report abuse |
  2. Jeff Frank - (R-Ohio)

    I'm a Netflix subscriber, with few complaints other than often the video "stalls" with a black screen telling me someone's about to tell me to junk my slow computer. They seem to know however what my bank acct. # is, so they get their money every single month. But their offerings are many. I think they should offer ABC, NBC, CBS, PBS like the STARZ channel. $4 gas is now here. Don't buy gas on Fridays. Now their working on $5 !!!

    April 25, 2011 at 10:04 pm | Report abuse |
  3. Cesar

    @TvNYC: You can buy dvd players or tvs with netflix installed. All u need is a wireless router and internet. Comcast is horrible for movies and the premium channels play the same movies over and over. Basic cable with internet and netflix is much less costly. Cable is always glitchy too when watching a movie.

    April 25, 2011 at 10:04 pm | Report abuse |
  4. TvNYC

    This economy is horrible! Rich are getting richer poor are getting poorer, middle class are getting poorer. Something is wrong here. Let me think of a solution. Lower the damn taxes and give everyone raises. Balance the rich a little bit they are all greedy @$$ holes!

    April 25, 2011 at 10:04 pm | Report abuse |
  5. TvNYC

    I didn't say comcast, I said dish network! Plus you aren't smarter than me so don't give me any advice here. Thanks!

    April 25, 2011 at 10:06 pm | Report abuse |
  6. Cesar

    @TvNYC: I am smarter than you. Any time and any day. On your best day, you couldn't live up to me on my worst day, punk.

    April 25, 2011 at 10:11 pm | Report abuse |
  7. Betaboy

    sweet,nerds that could'nt punch their way out of a wet paper bag!
    Letttsssss get ready to post rumble..........!

    April 25, 2011 at 10:19 pm | Report abuse |
  8. Mmmmm

    I just would like to let you both know I'm smarter than both of you...and my tennis shoes can go faster than your shoes...and my swing is higher than yours...and my dad can beat both of your dads up...and that times infinity, too!

    April 25, 2011 at 10:21 pm | Report abuse |
  9. Cesar

    @Betaboy: You're more of a punk than that idiot TvNYC.

    April 25, 2011 at 10:22 pm | Report abuse |
  10. Cesar

    Is that so Mmmmm, fat head!

    April 25, 2011 at 10:23 pm | Report abuse |
  11. TvNYC

    I'm more intelligent than all you put together. Ask Obama!

    April 25, 2011 at 10:27 pm | Report abuse |
    • Mmmmm

      That's right my head is bigger than yours, too...bigger plus infinity!

      April 25, 2011 at 10:42 pm | Report abuse |
  12. Betaboy

    I'm more of a punk than all of you.I think that kid with the Calligula name needs to be punked.

    April 25, 2011 at 10:34 pm | Report abuse |
  13. sphyxter

    Was Caligula the dude that liked knocking on the backdoor? just sayin.

    April 25, 2011 at 10:39 pm | Report abuse |
  14. Cesar

    Cesar
    April 25th, 2011 9:53 pm ET

    I like to suck Barney’s frank all the time. He pretends it’s Barney the dinosaur and sings I love you you love me as I hold back the gagging. 

    April 25, 2011 at 11:19 pm | Report abuse |
  15. Elmer Fudd

    Shhhh.... Be vewy vewy qwiet.. I'm hunting Cesoz.... Blam! White in the face

    April 25, 2011 at 11:32 pm | Report abuse |
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