Netflix's Earnings Rise 22%

We’re winding up a busy earnings week. Netflix (NFLX) reported that its earnings jumped 22% for the second quarter.

Los Gatos, Calif.-based Netflix also lifted its revenue and subscriber estimates for 2009.

After the market closed, Netflix said it earned $32.4 million, or 54 cents a share, compared with a profit of $26.6 million, or 42 cents a share, in the same quarter a year ago.

Excluding stock-based compensation, Netflix said it would have earned 58 cents a share in the latest three months.

Revenue rose 21% to $408.5 million.

Analysts surveyed by Thomson Reuters were expecting a profit, excluding stock-based compensation, of 52 cents a share on revenue of $409.7 million.

Clearly, the economy isn’t impacting businesses like Netflix as strongly as other sectors.

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