Netflix Inc. (NFLX: Quote) reported that its first-quarter net loss was $4.58 million or $0.08 per share, compared to profit of $60.23 million or $1.11 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $869.79 million from $718.55 million in the prior year quarter. Thirty one analysts had consensus revenue estimate of $868.57 million for the quarter.
For the second-quarter, the company expects net results to be loss $6 million - profit $8 million or loss $0.10 per share - profit $0.14 per share. Analysts expect the company to report a loss of $0.17 per share for the second-quarter. The company said that the improvement in the outlook is a result of continued member growth (both domestically and internationally), as well as increased efficiency of its content and marketing spending.
by RTT Staff Writer
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