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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO
MARK HAINES, CNBC ANCHOR: Netflix reporting an earnings dip for the third quarter, shares down sharply. The brain taking a look at that story -- David Faber.
DAVID FABER, CNBC CORRESPONDENT: Thanks, Mark. The online DVD rental company said quarterly earnings fell due to marketing costs from its war with Blockbuster (BBI), Netflix reported net income was 63 percent to -- fell 63 percent to $6.9 million. Revenue was up 23 percent, 170 to 174 something or other -- million. Joining us live for another "First on CNBC" is Reed Hastings, chairman and CEO of Netflix.
Good morning, Reed.
REED HASTINGS, CHMN., PRES. & CEO, NETFLIX: Good morning.
FABER: You had said, of course, you were focused on subscriber acquisition. Is that the way we should view this quarter?
HASTINGS: Absolutely. A year ago we had the market to ourselves, this year it has been very competitive in a very large market. We`ve grown...
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