Netflix Inc. (NASDAQ: NFLX) reported late Monday that its firsy-quarter profit jumped 88% to $60 million, or $1.11 a share, from a profit of $32 million, or 59 cents a share, in the same quarter a year ago. Revenue surged 46% to $719 million. Analysts on average, had expected a profit of $1.07 a share on revenue of $705.7 million.
Looking ahead to the second-quarter, the company said that it anticipates net income to be in the range of $50 million to $62 million or $0.93 to $1.15 per share. Analysts currently expect the company to report earnings of $1.19 per share for the quarter.
Netflix shares slumped more than 5% in Monday's after-hours trading.
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