Netflix Inc surprised Wall Street on Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the United States and abroad, sending its shares 35 percent higher in after-hours trading.The dominant U.S. video rental and streaming company had warned three months ago a letter to investors that it was likely to see a loss for the October to December period, attributing it to startup costs for its expansion into Scandinavia.But Netflix underestimated the impact of the busy holiday season, when sales of tablets, phones and Internet-connected TVs helped boost subscriptions even as the company faced competition from companies such as Hulu and Amazon.com Inc.Netflix reported $8 million in net income for the fourth quarter, or 13 cents per share. Revenue rose 8 percent to $945 million from the same quarter a year earlier.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail Websites and focuses on selection, price, and convenience. Shares of AMZN fell by 0.77% or $-2.08/share to $268.11. In the past year, the shares have traded as low as $172.00 and as high as $274.50. On average, 3269490 shares of AMZN exchange hands on a given day and today's volume is recorded at 2513507.
Netflix, Inc. (Netflix) is an Internet subscription service streaming television shows and movies. Shares of NFLX traded higher by 5.57% or $5.45/share to $103.26. In the past year, the shares have traded as low as $52.81 and as high as $133.43. On average, 4448060 shares of NFLX exchange hands on a given day and today's volume is recorded at 10605504.
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