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Los Gatos, Calif. • Netflix Inc. reported third-quarter net income Wednesday of $59.3 million.
On a per-share basis, the California company said it had net income of 96 cents. The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The Internet video service posted revenue of $1.41 billion in the period, which matched Street forecasts.
Netflix shares have risen 22 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 1 percent. In the final minutes of trading on Wednesday, shares hit $448.95, a rise of 40 percent in the last 12 months.