Original Programming Helps Netflix Score Strong Earnings Report
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Netflix(NEW YORK) — New customers are streaming to Netflix.
The company’s decision to add House of Cards and other original programming to its online streaming service helped add two million subscribers in the U.S. during the first quarter of this year.
Netflix shares soared nearly 25 percent after a stronger than expected quarterly earnings report on Monday. The firm bounced back from a loss a year ago and made $3 million profit for the quarter. Quarterly revenue, meanwhile, topped $1 billion for the first time.
Netflix now has almost as many paying subscribers as HBO, and its move into original programming is a clear challenge to premium cable channels.
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