‘Orange Is New Black’ Vaults Netflix Past 50 Million Subs
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Netflix Inc., the world’s largest online-subscription service, posted second-quarter signups that beat analysts’ estimates as the women’s prison series “Orange Is the New Black” lifted users past 50 million.
Net income more than doubled to $71 million, or $1.15 a share, from $29 million, or 49 cents, a year earlier, Los Gatos, California-based Netflix said today on its website. That met the average of 30 analysts’ estimates compiled by Bloomberg. Sales grew 25 percent to $1.34 billion, matching projections.