Netflix Inc. Dominates This Holiday Season

Not surprisingly, while Blockbuster is falling to the side, Netflix Inc continues to do shockingly well. Netflix surprised Wall Street on Wednesday with their quarterly proft after they added almost 4 million customers in the US and abroad. Their shares soared 35% higher in after-hours trading.

Expanding into Scandinaviafrom October to December, Netflix actually warned investors that it was likely there would be a loss during this period. They underestimated the impact that the busy holiday season would have on their sales, however. They reported $8 million in net income for the fourth quarter and revenue rose 8% to $945 million from the same quarter a year earlier.

As Netflix CEO Reed Hastings explained, “We just saw tremendous growth over the holidays.”