Netflix Reports Income, Wall Street Swoons

February 1, in Business

You’ve got to admit, when a dot-com company that A. survived the dot-crash and B. continues to be massively profitable to this very second announces its earnings, it’s no surprise that Wall Street would react favorably.

And so they did with the announcement that Netflix saw huge profitability in 2009.

How huge, you ask?  Simple–try over one billion dollars in gross sales.  Try a hundred and fifteen million in net profit.  Try a steadily expanding library of streaming titles that shows no signs of slowing down AND offers massive profitability by pulling DVDs and the postal service COMPLETELY out of the picture.

Thus, the final conclusion should also come as no real surprise when I tell you that Netflix’s stock price is trading around an all time high–sixty three bucks a share.  Ironically, this is about what shares of Walmart are trading at.

So congratulations to Netflix, who’s blowing away the competition.  God help every one of them.

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