Media
Netflix Passes All Goals, Except The Most Important (NFLX)
Published:
Last Updated:
Netflix, Inc. (NASDAQ: NFLX) is getting hit in the after-hours trading session despite posting some impressive growth. The video rental giant made $43.5 million, or $0.80 EPS, a gain of close to 35%, while revenues rose 27% to about $520 million. Earnings expectations were $0.70 at Thomson Reuters, but revenue estimates were $524.4 million. The company did add another 1 million subscribers and is looking for a repeat, but shares are getting hit.
The 2010 guidance is for earnings of $2.58 to $2.86 EPS and $2.14 to $2.16 billion in revenues. Thomson Reuters has estimates of $2.65 EPS and $2.15 billion in revenues. With shares being such a high-beta and with the stock having risen so much, that won’t make the grade.
Netflix ended June with more than 15 million subscribers, which is up from 14 million subscribers in March and versus 10.6 million a year ago. Today actually marked the third “at least 1 million subscriber adds” and the company is looking for a repeat there this quarter to end summer with 16.3 to 16.7 million subscribers.
Shares closed down 0.6% at $119.65 versus a 52-week range of $39.27 to $127.96, but shares are getting tooled in the after-hours session. Shares are down 9.25% at $108.60 in the after-hours trading session.
JON C. OGG
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
