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Empresas y finanzas

Netflix profit beats Street, revenue disappoints


    LOS ANGELES (Reuters) - Online DVD rental company Netflix Inc's posted higher first-quarter profit on Wednesday, beating Wall Street's expectations, but its shares seesawed after hours as revenue disappointed some investors.

    "It was a very solid report with strong sub growth and earnings, but the revenue was light and the stock is selling off," said Barton Crockett, an analyst with Lazard Capital Markets.

    The company, based in Los Gatos, California, said first-quarter net income was $32.3 million, or 59 cents per share, compared with $22.4 million or 37 cents per share, a year earlier.

    Netflix said revenue for the first quarter of 2010 was $493.7 million, up 25 percent from $394.1 million in the year-earlier quarter.

    Analysts, on average, had expected the company to report earnings of 54 cents on revenue of $493.1 million.

    Crockett said he had forecast revenue of about $496 million.

    After the news, shares fell more than 5 percent but then recovered to trade at $88.01 from a close of $86.98 on Nasdaq.