Netflix Is Beating HBO in Revenue, But It’s Still the Underdog | Business

Yesterday, the Netflix CEO used Facebook to point out that the video streaming service is now pulling in more subscriber revenue than HBO. “Minor milestone: last quarter we passed HBO is subscriber revenue ($1.146B vs $1.141B),” Hastings boasted. But then came the modesty. “They still kick our ass in profits and Emmy’s, but we are making progress. […] Not so long ago, parent company Time Warner didn’t break out HBO’s profits separately. Once it started to do so earlier this year, however, the contrast was stark. In quarterly numbers released this week, HBO’s profits surged compared to last year to hit $548 million. Netflix, by comparison, reported second-quarter profits of $71 million. – Marcus Wohlsen,WIRED