Netflix's Loss Widens

Online movie rental company Netflix(NFLX Quote) reported a wider first-quarter loss Thursday, despite a huge increase in revenue and a reduced churn rate. Its shares were lower in the after-market session.

The company also upped its full-year net income and revenue expectations, and announced an increase in the price of its standard Netflix service to $21.99 a month from $19.95 a month, effective June 15.

Netflix's quarterly loss widened to $5.8 million, or 11 cents a share, from $2.4 million, or 5 cents a share, a year earlier, due to marketing expenses associated with its "rapid subscriber growth." ...