Metue.com

Netflix  (NASDAQ: NFLX), battling with an aggressive marketing campaign from competitor Blockbuster, reported Q1 earnings slightly below expectations and reduced its outlook for the year.

Revenue was up 36% to $305.3m but earnings fell in 2cents below estimates.  The company earned 14cents a share ($9.9m) for the quarter, up substantially from 7 cents a share ($4.4m) for the same period last year.

There were 6.8m total subscribers but churn (customer cancellations) increased to 4.4% from 3.9%in the 4th Quarter

Guidance was adjusted downward to fiscal year revenue of $1.21b to $1.26b, off initial estimates of $1.25-$1.30b and analysts consensus (Thompson) of 41.29b

More detailed press coverage on Netflix’ finances can be found at:

Yahoo Finance
Google Finance
Marketwatch