NEW YORK -- Netflix says its first-quarter earnings rose 36 percent as its subscriber base grew and operating expenses declined. The Los Gatos, Calif.-based online DVD rental service earned $13.4 million, or 21 cents per share, in the quarter, compared with $9.9 million, or 14 cents per share, a year ago. On an adjusted basis, Netflix earned 23 cents per share. Revenue rose 7 percent to $326.2 million from $305.3 million. Analysts polled by Thomson Financial had expected earnings of 21 cents per share on $326.9 million in revenue. Netflix ended the quarter with 8.2 million subscribers, up from 6.8 million in the year-ago quarter. The company's operating expenses fell to $88.4 million from $99.1 million, as Netflix trimmed marketing expenses amid declining competition.
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