Netflix Says Strong Dollar Hurt Revenue In First Quarter

Netflix Inc. said strong dollar hurt the company's revenue overseas in its first quarter. The streaming company reported that its international revenue was $48 million lower than the year-earlier based on 2014 first-quarter foreign exchange rates. Though international subscriptions were up, as the company expanded into Cuba, Australia and New Zealand, those numbers were offset by exchange rate headwinds, the company said. The company said it is seeking shareholder approval to increase its authorized shares. If approved, it will recommend a stock split to its board. Shares were up 12% at 532 in after-hours trade.

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