Netflix (Nasdaq:NFLX) in Another Blowout Quarter, Adds Another 3.1 Million Subscribers

Shares of Netflix (Nasdaq:NFLX) soared in after hours trading as the company had another blowout quarter, this time adding another 3.1 million subscribers.

Netflix generated $47 million in earnings in the fourth quarter, or 87 cents a share, a gain of 52 percent over $31 million, or 56 cents a share in the same period last year. Analysts had been looking for 71 cents a share.

Revenue soared 34 percent to $596 million.

If there were any doubt as to the increasing importance of Netflix in the new media world, this quarter should have ended them.

After the subscriber growth, at the end of 2010, Netflix has a total of approximately 20 million subscribers.

Management guided to another 2.8 million being added in the first quarter.

As of 5:06 PM EST, Netflix was trading after hours at $197.02, gaining $13.98, or 7.64 percent.