Profit Outlook Lifts Netflix

Netflix ( NFLX) was rising in extended trading Monday after the company raised the low end of its revenue guidance and said it expects to post a profit for the current quarter.

The online movie rental service expects to earn $3 million to $4 million, when calculated according to generally accepted accounting principles, for the second quarter ending June 30.

Netflix also now expects revenue of $62 million to $64 million, compared with its prior forecast of $60 million to $64 million.

Shares of Netflix were climbing $1.71, or 7%, to $24.77 in Instinet trading after the close.

The company also narrowed its expected subscriber count to a range of 1.13 million to 1.15 million from 1.11 million to 1.16 million.

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