• by Wayne Friedman , January 25, 2012

Better than expected earnings news from Netflix rocketed its stock up over 10% in mid-day Wednesday trading.

Despite its well-noted Summer 2011 problems of proposed changes in its services -- much to the chagrin of loyal customers -- Netflix beat earnings estimates, pulling in $41 million in fourth quarter 2011 results.

Analysts were expecting Netflix to record net quartely profits of 54 cents a share and $857.3 million in revenue. Instead, it posted 73 cents a share and $876 million. Netflix earnings results are down 13% from $47 million for the same time period a year ago.