Online DVD rental service Netflix announced Monday that net income for the first quarter was up 36 percent year over year, due in part to an increase in its subscriber base.
Netflix reported it had 8,243,000 total subscribers at the end of the quarter, which closed March 31. That's a 21 percent increase over the same period last year. First-quarter revenue was $326.2 million, up from $305.3 million for the same period last year. GAAP net income was $13.4 million, compared with $9.9 million in the first quarter last year--a 36 percent rise.… Read more