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Read ArticleShortly after close today, Apple hit $700 per share in after hours trading propelled by the report that the company sold over 2 million iPhone 5’s during pre-orders.
Sometimes it can be easy for us as members of a modern society to realize that social networking portals such as MySpace, Twitter, and Facebook are only a (relatively) new concept in the world in which we live. And the fact of the matter is that as consumers and end-users we rarely ever really ponder the fact that while social networking is built to allow users to keep in touch with one another, the social networks themselves are indeed large and profitable enterprises that have their own profit-driven goals in mind.
Netflix, Inc. (NFLX) has become a very hot stock recently. The stock is currently trading at $229 (which is down from a high of $254) and has seen over an 1000% return in just over nine months under Netflix CEO Reed Hastings. In its most recent Q1 earnings report, Netflix reported it currently has 21.4 million subscribers, which is up 57%. The company’s earnings are also up 88% in the most recent quarter. Netflix is also planning on expanding its service to other countries, it recently launched its streaming-only service in Canada.
Netflix earns a majority of its revenue through its subscriptions which start at $8.99 per month in the U.S. and $7.99 in Canada. The company expects to see the majority of subscribers move over to its streaming services within the next year. The streaming services cost significantly less than its DVD delivery service.
In terms of Internet-driven companies, Google is the living breathing definition of the success attained through hard work and innovation. The company, originally formed as part of a side-project on the part of a few eager college students on a mission to index the Internet, has managed to become a large-scale enterprise that is just as profitable as it is influential.
For years now this influence and profit has been entirely evident in Google’s noteworthy road to success. The company has done very well for itself by expanding beyond its original search engine foundation, and has (for the most part) done well with newer services such as Gmail and Google Apps; services that have been a wild success amongst individuals and businesses of all sizes alike. However, more recent news has shed a critical light on Google’s success after the company failed to meet profit expectations in their last quarterly posting. But even though this news doesn’t seem to have set very well with some investors that have opted to side with caution after the news came out earlier this week, I honestly am not buying into the fear of Google’s failure.
