Netflix Profit Jumps
The economic climate notwithstanding, Netflix reported huge quarterly results Monday, posting a 45 percent gain in profit over the same period last year.
According to the Associated Press, the video-rental-by-mail service, which has begun to deliver its content digitally through a variety of set-top boxes, added over 700,000 new customers in the quarter, leading to net income of $22.7 million. The growth was partially buoyed by the company's Internet streaming offerings.
The announcement sent the company's shares upward in after-hours trading.