Netflix Isn't Doing As Bad As We Thought It WasS

Netflix had a pretty bad 2011. And that might be underselling it since the company pretty much destroyed all the goodwill it developed over the years and became a laughingstock. No matter! Netflix just announced its earnings for the fourth quarter of 2011 and things are looking good.

To sum it up: Netflix is actually adding streaming customers again. The company added 220,000 net domestic streaming subscribers (total now at 21.67 million) and 380,000 net new international streaming customers (total now at 1.86 million). DVD subscribers, however, plummeted by 2.76 million leaving only 11.17 million people still getting Netflix by mail.

But that's all okay because Q1 2012 is looking even better. Netflix is saying that net domestic streaming customers are tracking close to 1.7 million for the quarter, similar to numbers back in Q1 2010. HEY LOOK AT ME NOW. The company is still projecting a loss in Q1 but they beat the Street expectations for Q4 2011, so Netflix stock is going up, up, up. I guess it's time to file away your Qwikster jokes if you hadn't already. [Business Insider]