Netflix Now Has More Subscribers Than HBO

Good news for shareholders
By Ruth Brown,  Newser Staff
Posted Oct 21, 2013 5:29 PM CDT
FILE - This Jan. 29, 2010, file photo, shows the company logo and view of Netflix headquarters in Los Gatos, Calif. Netflix reports quarterly earnings on Monday, Oct. 21, 2013.   (AP Photo/Marcio Jose Sanchez, File)
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(Newser) – Netflix has passed the 40 million subscriber mark. Dropping its third quarter results today, the company revealed that 29.93 million of those paid subscribers are in the US—a higher number than HBO, which had 28.7 million subscribers at last count, Engadget reports. Netflix added 1.3 million new subscribers in this past quarter—compared with 600,000 in the previous one, TechCrunch reports.

With news of the streaming video service's $1.1 billion in revenue, Netflix shares jumped 10% today, continuing an impressive trajectory that has seen them soar 440% in the last 12 months, CNNMoney reports. And the company expects to keep heading onwards and upwards: it projects a gain of between 1.6 million and 2.4 million new subscribers in the fourth quarter, TechCrunch reports. (Read more Netflix stories.)

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