Netflix to raise monthly prices for new subscribers by $1 or $2 to buy more shows, movies

The Associated Press

FILE - This image released by Netflix shows Kevin Spacey as Francis Underwood, left, and Robin Wright as Clair Underwood in a scene from "House of Cards." Netflix reports quarterly earnings on Monday, April 21, 2014. (AP Photo/Netflix, Nathaniel E. Bell, File)

Associated Press + More

Netflix's comeback has been propelled by the company's increasing emphasis on exclusive programming such as "House of Cards," an acclaimed series starring Kevin Spacey as a cunning politician with a ruthless plan to become President of the United States. Netflix released all 13 episodes in "House of Cards'" second season on Feb. 14, midway through the first quarter.

Another popular Netflix series, "Orange Is The New Black," is returning with new episodes June 6, toward the final month of the current quarter.

Even with "Orange Is The New Black," Netflix is only expecting to attract 511,000 U.S. subscribers from April through June before prices rise for new customers. That would be down from an increase of 630,000 U.S. subscribers at the same time last year.

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. The latest quarterly earnings exceeded the average estimate of 81 cents per share among analysts surveyed by FactSet.

Revenue rose 24 percent from last year to $1.3 billion to match analyst projections.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.