Netflix went a long way to answering skeptics today by reporting big jumps in profits and subscriber growth.
The nation's top video rental service reported fourth-quarter net earnings of $47 million or 87 cents per share, on $596 million in revenue. These figures represent a sharp climb from the same period a year ago.
Income for the quarter, which ended December 31, rose 52 percent and revenue grew 34 percent from the year-ago period.
The big news came in the form of subscriber growth. Netflix reported that the total number of Netflix subscribers is 20 million. For the quarter, … Read more