Business & Tech

Los Gatos' Netflix Raking In The Cash

Subscribers grow by 1.3 million for a total of 40 million members.

Los Gatos-based Internet media streaming giant Netflix has released its third-quarter 2013 financial results showing big gains and a growth of 1.3 million subscribers for this latest reporting period.

The company, which just signed lease agreements for two new commercial Class-A buildings on Albright Way and Winchester Boulevard, almost across from its current location on 100 Winchester Circle, posted its positive results on its website.

The announcement, as other quarterly financial reports issued by the popular company, was accompanied by a letter to shareholders, which was also posted on Netflix's website.

The NASDAQ reported Netflix’s stock skyrocketing Monday rising by $38.01, or nearly 11 percent, to $393.

Netflix Chief Executive Officer Reed Hastings, Chief Financial Officer David Wells and Chief Content Officer Ted Sarandos will participate in a live video interview at 2 p.m. Pacific at youtube.com/netflixir.

The interview will be conducted by Rich Greenfield of BTIG Research and Doug Anmuth of JP Morgan.

Questions that investors would like to see asked should be sent to rgreenfield@btig.com or douglas.anmuth@jpmorgan.com.

Netflix boasts more than 40 million members in 41 countries enjoying more than one billion hours of TV shows and movies per month, including original series.

For $7.99 a monthly, Netflix members can watch as many TV shows and movies they want on nearly any Internet-connected screen.





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