Netflix forecast: 23.7 million subscribers by end of 1Q2011; revenues to $717 million
Netflix, which today reported it had reached 20.01 million subscribers and revenues of $596 million in Q4, said it expects to add as many as 2.8 million more subscribers in 1Q2011 in the United States, and an additional 750,000 to 900,000 internationally.
In a letter to investors the company said it also expected to see revenue in the first quarter of between $684 million and $704 million in the U.S., and another $10 million to $13 million worldwide. Netflix currently operates in the U.S. and Canada, but said it plans to expand to at least one new market in 2011 and, if it sees strong growth, will aggressively expand worldwide in 2012.
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