Netflix Earnings rock, soon hitting 10 million Subscribers

Jan 27 2009, 8:00am CST | by Luigi Lugmayr

Movie rental company Netflix reported great numbers in their 4th Quarter Earnings.
Netflix ended the 2008 with 9.4 million overall subscribers representing 26% year-over-year growth.
Revenue for the fourth quarter of 2008 was $359.6 million, representing 19 percent year-over-year growth from $302.4 million for the fourth quarter of 2007, and a 5 percent sequential increase from $341.3 million for the third quarter of 2008.
Revenue for fiscal 2008 was $1.365 billion, up 13 percent from $1.205 billion for fiscal 2007.
"Consumers embraced the Netflix experience in near record numbers last quarter” said Reed Hastings, Netflix co-founder and chief executive officer, “with growth in our core DVD offering and growing momentum with internet streaming.”

This is yet another company that does everything right and is going strong dispite the economic crises. I was actually pretty surprised how fast digital movie download suddenly spread in 2008. In most part this is attributed to Netflix. There are now several devices Netflix subscribers can stream movies from Netflix directly on their TVs. Devices include the XBox 360, Roku Netflix Player, TiVo, LG TVs and more.

More details on Netflix.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.