The U.S. online shopping world's biggest day is here, but will strong web sales on Black Friday and Thanksgiving cut into Cyber Monday's take?
Netflix, the online DVD movie rental service, posted a first-quarter net loss of $5.8 million on record revenue of $100.4 million, as it absorbed marketing costs related to luring 760,000 new subscribers.
Netflix Inc., the online DVD movie rental service, posted a net loss of $5.8 million on record revenue of $100.4 million for the first quarter ended March 31, compared to a net loss of $2.4 million on $81.2 million in revenue in the year-ago quarter, the company reported today. Netflix attributed much of the 140% widening of its net loss to the marketing costs related to luring 760,000 new subscribers, an 82% increase from the number of new subscribers garnered a year ago. It ended the first quarter with more than 1.9 million subscribers.
Netflix said its Q1 subscriber acquisition cost was $35.12 per new-trial subscriber, an 11% increase from $31.67 a year ago. But it said average monthly subscriber churn in Q1 was 4.7%, down from 5.8% from Q1 of last year.
Netflix noted that its Q1 non-GAAP net loss was $1.4 million, compared to non-GAAP net income of $31,000 a year ago. It said non-GAAP results do not include stock-based compensation expenses.