Internet Streaming Helps Netflix Post Strong Results

Pulkit Chandna

The financial crisis does not appear to have caused much trouble to Netflix. The company enjoyed a prolific run during the fourth quarter. The company announced that its year-over-over profit increased sharply by 45% during the fourth quarter to $22.7 million.

Its revenue during the quarter stood at $359.6 million, up 19 percent from the same period last year. The movie rental company surpassed all expectations with its strong showing during the quarter.

Netflix imputed its success to the popularity of its internet streaming service and a reduced marketing bill. Proponents and detractors of digital distribution have another opportunity to lock horns in the comments section.

Image Credit: Zatznotfunny

Around the web