Netflix (NFLX - Free Report) has outperformed earnings expectations for Q3 after the bell today, posting $1.47 per share versus $1.05 in the Zacks consensus (which was itself +18% year over year). Revenues came in a smidge light at $5.244 billion, in-line basically but officially down from the $5.25 billion anticipated. Shares are up big — over 7% — in immediate after-market trading.
Subscriber adds were disappointing on the U.S. side — 517K new streaming subscribers in the quarter missed the 0.8 million estimate — though at least this was a positive number, as opposed to the previous quarter which showed negative subscriber adds. Guidance for subscribers in Q4, when we expect Disney+ and Apple TV+ to come on market as well, also disappointed: 7.6 million streaming net adds are expected, down from the estimated 9.5 million.
International net adds made up the difference: 6.255 million outperformed the 6.05 million analysts were anticipating. This shows Netflix’s long-term goals of expanding its market globally is bearing fruit, even if domestic challenges look to provide headwinds going forward.
IBM Corp. (IBM - Free Report) posted mixed results in its Q3 report this afternoon, beating on the bottom line — $2.68 per share versus $2.64 expected — but missing on the top: $18.08 billion, down from the Zacks consensus $18.24 billion. This is the fifth straight quarter of shrinking sales revenue for the tech giant, as it continues to re-focus its platforms. A 2% gain in cloud revenue is decent, but not good enough to keep the stock from selling off 2.7% in the after-market.
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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.
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Netflix (NFLX - Free Report) has outperformed earnings expectations for Q3 after the bell today, posting $1.47 per share versus $1.05 in the Zacks consensus (which was itself +18% year over year). Revenues came in a smidge light at $5.244 billion, in-line basically but officially down from the $5.25 billion anticipated. Shares are up big — over 7% — in immediate after-market trading.
Subscriber adds were disappointing on the U.S. side — 517K new streaming subscribers in the quarter missed the 0.8 million estimate — though at least this was a positive number, as opposed to the previous quarter which showed negative subscriber adds. Guidance for subscribers in Q4, when we expect Disney+ and Apple TV+ to come on market as well, also disappointed: 7.6 million streaming net adds are expected, down from the estimated 9.5 million.
International net adds made up the difference: 6.255 million outperformed the 6.05 million analysts were anticipating. This shows Netflix’s long-term goals of expanding its market globally is bearing fruit, even if domestic challenges look to provide headwinds going forward.
IBM Corp. (IBM - Free Report) posted mixed results in its Q3 report this afternoon, beating on the bottom line — $2.68 per share versus $2.64 expected — but missing on the top: $18.08 billion, down from the Zacks consensus $18.24 billion. This is the fifth straight quarter of shrinking sales revenue for the tech giant, as it continues to re-focus its platforms. A 2% gain in cloud revenue is decent, but not good enough to keep the stock from selling off 2.7% in the after-market.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>
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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