Netflix turns in another strong quarter

Netflix Inc. continues to fare well in a period when many Americans seem to be hunkering down at home and looking for reasonably priced entertainment.

For the third quarter, Netflix, No. 18 in the Internet Retailer Top 500 Guide reported another big gain in revenue and net income.

For the quarter ended Sept. 30, Netflix reported:

• A 24% increase in revenue year over year to $423.1 million from $341.2 million.
• Net income grew 47.6% to $30.1 million from $20.4 million.
• Total subscribers reached 11.1 million, an increase of 27.7% from 8.7 million in the third quarter of 2008.
• Spending on marketing increased 26.8% to $58.6 million from $46.2 million.
• Spending on technology grew 10.7% to $30 million from $27.1 million.

For the first three quarters of 2009, Netflix reported:

• A 20.8% increase in revenue year over year to $1.22 billion from $1.01 billion.
• Net income grew 40.8% to $84.9 million from $60.3 million.
• Spending on marketing increased 16% to $167.0 million from $144.0 million.
• Spending on technology grew 23.6% to $81.3 million from $65.8 million.