Netflix Reaches New Heights -- City Index Australia

Netflix Reaches New Heights -- City Index Australia 
SYDNEY, AUSTRALIA -- (Marketwire) -- 01/29/13 --  City Index
Australia: The rollercoaster ride on Wall Street for Netflix scaled
new heights, with the company's stock climbing by $43.60 to close the
day's trading on the Nasdaq at $146.86.  
The favourable figures are the result of the company revealing better
than expected earnings for the last three months of 2012 late on
Wednesday. 
Netflix's 42 per cent rise is the biggest gain since the company went
public over ten years ago; a time when investors were still reluctant
to buy into internet companies due to the burst of the dot-com
bubble. 
Its previous high came in October 2002, where shares rose by nearly
36 per cent. 
Confidence in the company has grown since it established itself as
the leader of streaming movies and television shows for use at home,
although it does still run its DVD-by-mail service. 
The company had fallen out of favour on Wall Street due to upsetting
its subscribers by announcing the end of DVD rental and streaming
services in one single package, as well as increasing competition
from Amazon and Hulu. 
This caused such low-confidence on the part of investors that its
stocks fell to a 52-month low just five months ago. 
But investment from billionaire Carl Icahn, as well as a deal with
the Walt Disney Co in December has restored faith amongst investors. 
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