Netflix ?Returns To Profitability,? Reports Gain Of $0.11 Per Share On $889M In Revenue

Netflix has just released its second quarter 2012 earnings report, in which the video rental veteran outpaced estimates, improving on last quarter and meeting most expectations and even beating some. Revenue increased to $889 million compared to the same period for 2011. Earnings per share came in at $0.11 per share. In the weeks leading up to the release, analysts had been projected Netflix to remain steady, reporting a profit of $0.04 per share on sales of $889 million. That works out to a $6 million gain for the quarter, and brass are happy with the outcome over the quarter. In their letter to investors (see below), CEO Reed Hastings and CFO David Wells said that Netflix returned to global profitability this quarter, and are gearing up for more of the same in Q3. Although, as it should be, expectations remained mild for the rest of the summer.

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