After today's close, Netflix (NFLX Quick QuoteNFLX - Free Report) and United Continental (UAL Quick QuoteUAL - Free Report) report earnings for their fiscal Q1. Netflix topped the Zacks consensus estimate by 2 cents to 40 cents per share on revenues exactly in-line with projections: $2.64 billion in the quarter. United also outperformed expectations on both top and bottom lines, with 41 cents per share on $8.4 billion in quarterly sales beating the 37 cents and $8.36 billion anticipated.

Shares of the streaming entertainment giant is selling the news following its Q1 report, in which 1.42 million domestic subscribers and 3.53 million international subscribers missed analyst estimates of 1.5 million and 3.7 million, respectively. Guidance for Q2 includes revenues in-line with the consensus at $2.75 billion, though costs are ratcheting EPS estimates downward: 15 cents per share is now expected for Q2, far less than the 23 cents in the Zacks consensus.

Netflix CEO Reed Hastings mentioned that he doesn't see streaming TV bundles jeopardizes the company's near-term outlook, nor is the company interested in going after broadcasting sporting events in the near future. Clearly the focus has been on building out internationally for the past several quarters, and even though shares of the stock are selling off following the Q1 report, Netflix shares remain near their all-time trading highs.

For a more in-depth account of Netflix's Q1 earnings, please click here.

United, recently beleaguered with bad press regarding an incident where a customer was forcibly removed from a United flight, has now beaten estimates in each of its last 5 quarters. This 4-cent beat after the bell today, however, represents the best of the lot. It may be a struggle for United to maintain this streak, especially if we start to see a drop in bookings for Q2, but certainly the airline major and Zacks Rank #3 (Hold) stock will fight to remain competitive.