Netflix Inc, which is the largest mail-order movie-rental system in the United States, has experienced significant 48 percent rise in profits in the third quarter off of an increased number of subscriptions. Net income has increased to $30.1 million, or 52 cents per share, from $20.4 million, or 33 cents per share, a year earlier, according to a statement released today by the company.
Netflix’s results managed to surpass analyst expectations for its profit, with the average analyst estimate coming in at 47 cents across twenty-two predictions. While much of Netflix’s competition has been forced to shrink operations due to weak …read more

The widely-touted war between traditional video rental outlet Blockbuster and newer alternatives like Netflix seems to be decidedly in the latter’s favor, as Blockbuster’s same-store sales continue to suffer. This has led Blockbuster to report results that missed analyst expectations, even though they marked an improvement of the company’s potential losses.
 
Blockbuster has also decided to lower its unadjusted earnings target by $35 million to a range from $270 million to $290 million. According to Blockbuster CEO James Keyes, Blockbuster will not undergo any dramatic changes to turn the company’s fortunes around, despite growing levels of competition from low-cost DVD rental …read more