Shares of Netflix Inc. (NFLX) are up 6.9% to $31 before the opening bell Wednesday after the online DVD rental service boosted its first-quarter earnings outlook.
The Los Gatos, Calif., company said it now sees first-quarter earnings of 15 cents to 22 cents a share on revenue of $324 million to $328 million. The company had previously forecast first quarter earnings of 13 cents to 21 cents a share on revenue of $323 million to $328 million.
Analysts expect, on average, earnings of 20 cents a share on revenue of $325 million.
In addition, Netflix sees first-quarter ending subscribers of 8.16 million to 8.26 million, up from a prior view of 7.85 million to 8.05 million ending subscribers.
Not much of a raise, but...
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