Netflix now bigger than HBO after hot quarter

Brad Reed
Netflix is starting to wound the movie industry where it hurts most

It’s safe to say that Netflix is doing pretty well for itself. The popular online content provider posted a very strong third-quarter earnings report on Monday, with earnings per share of $0.52 on revenue of $1.1 billion. The most important number, though, was the 1.3 million net added subscribers in the United States that put the company over the 30 million subscriber mark for the first time. This means that Netflix now has more subscribers in the U.S. than HBO, which has an estimated 28.7 million U.S. subscribers according to research firm SNL Kagan. Analysts had expected Netflix to add between 700,000 and 1.5 million subscribers on the quarter so Netflix’s 1.3 net additions certainly came in at the high end of the spectrum.

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