Netflix Announces Q3 2013 Earnings – Now Has More Subscribers Than HBO

Netflix Announces Q3 2013 Earnings – Now Has More Subscribers Than HBO

Netflix announced their numbers for the third quarter of 2013 today, beating expectations on revenue with $1.11 billion and earnings per share of $0.52. The company added 1.3 million new domestic subscribers, which pushed it past popular cable and satellite movie subscription service HBO.

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The Verge:

Netflix has been on a roll lately. After a disastrous end to 2011 in which it tried to spin off its DVD by mail business into a separate unit called Qwikster and raised prices on streaming only customers, the company has roared back over the last year with rapid subscriber growth, its first Emmy awards, and a booming stock price. Analysts predicted this morning that, for the first time, Netflix would overcome HBO in terms of U.S. subscribers this quarter.

The stock, which hit a low of $53 per share in August following the Qwikster debacle, has since risen to $352 per share, a new company record.

Big moves have been rumored for Netflix recently, including a deal with Marvel to produce original series, and a partnership with cable companies to have the streaming service included as an app on the companies set top boxes.

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