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Guidance

Netflix Lowers Guidance, Citing $4 Million Class Action Settlement

Authored by Mark Hefflinger on September 29, 2005 - 4:08am.
Los Gatos, Calif. - Online DVD rental service Netflix on Thursday lowered its profit outlook for the third quarter, citing the potential $4 million in damages it faces in settling a class action lawsuit. The company was sued in Sept. 2004, over claims of false advertising for its DVD rental service. The settlement is expected to reach between $3 million and $4 million. Los Gatos, Calif.-based Netflix now expects earnings of between $2.5 million and $5.3 million for the third quarter, down from $4.5 million to $8 million. The company also slightly increased its subscriber projections for the quarter, from an estimate of between 3.35 million and 3.5 million, to a new forecast of 3.59 million to 3.61 million subscribers.
tags: Law | Netflix | Settlement | Guidance |

Napster Raises Guidance on Subscription Strength

Authored by Mark Hefflinger on March 3, 2005 - 7:27am.
Los Angeles -- Napster on Thursday raised its revenue projections for its fourth quarter, crediting "robust growth" in its subscription service. The company now expects revenues of $15 million for the quarter, up from its previous estimate of $14 million. "Since the launch of Napster To Go, we have experienced exceptional demand for all aspects of our business," said Napster CEO Chris Gorog. "Our new marketing campaign is already delivering strong returns by generating unprecedented interest in both our regular and portable music subscription offerings." Napster recently launched a $30 million marketing campaign for its rental-based digital music service, which allows users to transfer unlimited songs to supported portable players for $15 per month.
tags: Napster | Guidance | Subscription Strength |

Yahoo Beats Estimates, Raises Guidance

Authored by Mark Hefflinger on April 10, 2003 - 2:38am.
Sunnyvale, Calif. -- Buoyed by sales of its fee-based services, Yahoo on Wednesday posted earnings and revenue results for the first quarter that beat Wall Street estimates. The company reported net income of $46.7 million, or $0.08 per share. Yahoo's revenue from free-based services, including its Internet access business with SBC Communications, rose 61 percent to $63.7 million. "Our results this quarter reflect the strong performance of our marketing services businesses, as well as continued success in providing fee-based services," said Terry Semel, the chairman and CEO of Yahoo. The company also raised its guidance for this year's revenue, from earlier predictions of $1.15-$1.22 billion to $1.22-$1.28 million.
tags: Yahoo | Guidance | Estimates |