Netflix, Inc. (NFLX - Free Report) just released its latest quarterly financial results, posting adjusted earnings of 85 cents per share and revenues of $3.91 billion.
Currently, NFLX is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained about 1.5% over the past month, including a 1.2% gain during regular trading hours today.
The stock is currently down 13.4% to $347.00 per share in after-hours trading shortly after its earnings report was released.
Netflix:
Beat earnings estimates. The company posted adjusted earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.79. Investors should note that this consensus projection has trended downward over the duration of the quarter.
Missed revenue estimates. The company saw revenue figures of $3.91 billion, missing our consensus estimate of $3.94 billion. Total revenue was up 43% from the prior-year period.
Netflix added 0.67 million net domestic streaming subscribers in the quarter, bringing its total to 57.38 million. On the international side, Netflix added 4.47 million streaming members and now has a total of 72.76 million.
Overall, the company has 130.14 million total streaming subscribers. This missed its own projections of 131.2 million. Nevertheless, the video streaming giant expects to reach 135.14 million total streaming subscribers by the end of Q3.
According to Netflix’s guidance, revenue for Q3 is expected to come in at $3.90 billion, while earnings are projected to reach $0.68 per share. This guidance is lower than our current Zacks Consensus Estimates of $4.14 billion and earnings of $0.71 per share.
Here’s a graph that looks at Netflix’s recent earnings performance:
Netflix is the world's leading Internet television network with millions of subscribers in nearly 50 countries who have access to an ever-expanding library of TV shows and movies, including original programming, documentaries and feature films. The company offers the ability to watch as subscribers want, anytime, anywhere, on nearly any Internet-connected screen.
Check back later for our full analysis on NFLX’s earnings report!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Netflix, Inc. (NFLX - Free Report) just released its latest quarterly financial results, posting adjusted earnings of 85 cents per share and revenues of $3.91 billion.
Currently, NFLX is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained about 1.5% over the past month, including a 1.2% gain during regular trading hours today.
The stock is currently down 13.4% to $347.00 per share in after-hours trading shortly after its earnings report was released.
Netflix:
Beat earnings estimates. The company posted adjusted earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.79. Investors should note that this consensus projection has trended downward over the duration of the quarter.
Missed revenue estimates. The company saw revenue figures of $3.91 billion, missing our consensus estimate of $3.94 billion. Total revenue was up 43% from the prior-year period.
Netflix added 0.67 million net domestic streaming subscribers in the quarter, bringing its total to 57.38 million. On the international side, Netflix added 4.47 million streaming members and now has a total of 72.76 million.
Overall, the company has 130.14 million total streaming subscribers. This missed its own projections of 131.2 million. Nevertheless, the video streaming giant expects to reach 135.14 million total streaming subscribers by the end of Q3.
According to Netflix’s guidance, revenue for Q3 is expected to come in at $3.90 billion, while earnings are projected to reach $0.68 per share. This guidance is lower than our current Zacks Consensus Estimates of $4.14 billion and earnings of $0.71 per share.
Here’s a graph that looks at Netflix’s recent earnings performance:
Netflix is the world's leading Internet television network with millions of subscribers in nearly 50 countries who have access to an ever-expanding library of TV shows and movies, including original programming, documentaries and feature films. The company offers the ability to watch as subscribers want, anytime, anywhere, on nearly any Internet-connected screen.
Check back later for our full analysis on NFLX’s earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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