Netflix Loss Widens as Expenses Rise
From Bloomberg News
Netflix Inc., the largest mail-order video-rental service, said its first-quarter loss widened to $5.79 million as marketing expenses rose. The shares fell as much as 11.9%.
The net loss of 11 cents a share compared with a year-earlier loss of $2.38 million, or 5 cents, the company said. Sales at Los Gatos, Calif.-based Netflix rose 80% to $100.4 million.
Netflix shares fell as much as $4.41 to $32.61 after hours. In regular trading, they rose 52 cents to $37.02 on Nasdaq.
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