After the bell Monday, Netflix (NFLX - Free Report) provided a huge Q3 earnings beat, doubling EPS expectations of 6 cents to 12 cents per share. Quarterly sales of $2.47 billion easily topped the $2.28 billion expected. Subscriber adds were the big story, typical of Netflix's business model -- 3.75 million net adds in the quarter far surpassed the 2.6 million from earlier company guidance. Subscriber add guidance is also way up, as is Netflix's stock price, bidding up 20% in late-day trading.
For more details on Netflix's Q3 earnings results, check out Maddy Johnson's comprehensive write-up: Netflix Skyrockets on Huge Earnings Beat, Membership Growth
IBM (IBM - Free Report) also reported Q3 earnings late Monday, once again beating EPS estimates -- $3.29 per share versus $3.21 expected. Revenues also outperformed expectations, $19.2 billion surpassing the $19.01 billion in the Zacks consensus estimate. The company reiterated full-year guidance of $13.50 per share. IBM is finally beginning to turn around its fortunes after 17 straight quarters of revenue declines (even though the company always beats EPS estimates). IBM shares are flat immediately after the announcement.
Finally, United Continental (UAL - Free Report) also posted higher numbers than expectations on both the top and bottom lines after today's close. Earnings of $3.11 per share bettered the $3.05 in the Zacks consensus, and the $9.913 billion in revenues topped the $9.86 billion anticipated. Passenger revenue per available seat mile was -5.8, toward the low end of the company's guidance range. Capacity growth will be limited to 1-2%, which should help in bringing air travel prices back up. Late trading put UAL shares up roughly 1%.