Despite worries about stagnating subscriber growth in a saturated market, Netflix grew its fourth quarter 2013 net profit six-fold from a year ago, reaching $48 million, even as its subscriber base exceeded 44 million members worldwide.
The online streaming darling handily beat Wall Street expectations, gaining 2.3 million more US subscribers in Q4 and more than four million overall. Meanwhile, revenue was up 24% year-over-year to $1.18 billion.
In terms of Q1 2014 guidance, Netflix expects to add another 2.25 million domestic customers, setting up an about 11% year-over-year increase.
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Netflix Q4 profit up six-fold
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