Netflix poised to raise prices by as much as $2 per month

SAN FRANCISCO (AP) - April 21, 2014

The price increase will be imposed on new customers by July. The company says current U.S. subscribers will continue to pay $8 per month for a "generous time period."

Netflix announced the price increase as part of its first-quarter earnings released Monday.

Investors evidently liked the move. The company's stock surged 6 percent in extended trading after the results came out.

Netflix Inc. earned $53 million, or 86 cents per share, during the first three months of the year. That compared to $2.7 million, or 5 cents, last year.

Revenue rose 24 percent to $1.3 billion.

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