Q2 revenue at Netflix rises 46% year-over-year

Revenue at Netflix Inc. rose 46% to $239.4 million for the second quarter ended June 30, up from $164 million a year ago, as its number of subscribers grew 62% to 5.2 million, Netflix said this week.

Q2 net income rose 229% to $16.8 million from $5.7 million in the year-ago period, as Gross profit margin rose to 37.1% from 28.2%, the company said.

Netflix said its cost per subscriber acquisition rose to $43.95 per gross subscriber addition, compared to $38.13 a year ago. The company reported 1.07 million gross subscriber additions in Q2, up 51% from 707,000 a year ago; net subscriber additions were 303,000, up 70% from 178,000 a year ago.

Of the 5.17 million subscribers at the end of Q2, 97% were paid subscribers, the same percentage as a year ago. The remaining 3% were subscribers on free promotional subscriptions.

Netflix is No. 21 in the Internet Retailer Top 500 Guide to Retail Web Sites.