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Netflix CEO sees $1B in revenue in 2006

Reed Hastings, chief executive officer of online DVD renter Netflix Inc., said on Thursday that the company thinks it will reach $1 billion in revenue in 2006, advancing by one year the expectation for that level of sales.
/ Source: Reuters

Reed Hastings, chief executive officer of online DVD renter Netflix Inc., said Thursday that the company thinks it will reach $1 billion in revenue in 2006, advancing by one year the expectation for that level of sales.

"We are confident we will hit $1 billion in revenue in 2006, so that's pulling in the guidance by another year in terms of when we will hit the billion in revenue," he told analysts and reporters during a presentation in San Jose.

Previously the company had said it expected to reach $1 billion in revenue during 2006 to 2007.