Netflix (NFLX) updated expected results this mornings and for shareholders, the news was very good indeed.
Revised First Quarter-2008 Guidance:
— Ending subscribers of 8.16 million to 8.26 million, up from 7.85 million to 8.05 million
— Revenue of $324 million to $328 million, from $323 million to $328 million
— GAAP Net Income of $10 million to $14 million, from $9 million to $14 million
— GAAP EPS of $0.15 to $0.22 per diluted share, from $0.13 to $0.21 per diluted share
Revised Full Year 2008 Guidance:
— Ending subscribers of 8.9 million to 9.5 million, up from 8.4 million to 8.9 million
— Revenue of $1.345 billion to $1.385 billion, up from $1.3 billion to $1.35 billion
— GAAP Net Income of $75 million to $83 million, unchanged from prior guidance
— GAAP EPS of $1.18 to $1.30 per diluted share, up from $1.12 to $1.24 per diluted share
When you compare this to the $100 million loss expected at Blockbuster (BBI) for the year with no real plans to alter its path, can we call it?
It is all about convenience, making a special trip to the video store no longer qualifies. It used to be convenient but technology has made it an “extra trip” in already packed schedules.
Disclosure (“none” means no position):None
