More People Subscribe to Netflix Than Largest Cable Company
As of today (Monday) Netflix officially has more subscribers than the largest cable TV company in, Comcast. Where do you rent movies? According to CNN Money:
Netflix knocked over a new milestone Monday: It now has more subscribers than the largest cable TV operator in the U.S.
Netflix's global subscriber base grew almost 70% over the past year, to 23.6 million users. With that audience, it dethroned Comcast (CMCSA, Fortune 500) as the country's biggest provider of subscription video content. More than 7% of Americans now subscribe to Netflix.
Those details came out Monday in Netflix's (NFLX) first-quarter report, in which the company reported earnings of of $60.2 million, or $1.11 a share. That's up from $32 million, or 59 cents a share, a year ago.
[ CNN Money ]