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Netflix Inc. (NFLX - Free Report) just released its third quarter fiscal 2017 earnings results, posting earnings of 29 cents per share and revenue of $2.99 billion. Currently, NFLX is a Zacks Rank #2 (Buy), and is up nearly 2.5% to $207.78 per share in after-hours trading shortly after its earnings report was released.

Netflix:

Missed earnings estimates. The company posted earnings of 29 cents per share, lagging behind the Zacks Consensus Estimate of 32 cents per share. Net income was $130 million for the quarter.

Beat revenue estimates. The company saw revenue figures (including DVD) of $2.99 billion, just edging past our consensus estimate of $2.97 billion and growing 30.3% year-over-year. Total streaming revenues came in at $2.875 billion, increasing over 33% from the prior year.

Netflix added 5.3 million memberships globally, up 49% year-over-year, thanks to a “strong appetite for our original series and films, as well as the adoption of internet entertainment across the world.” Year-to-date net adds stand at 15.5 million.

The company also reported total international memberships of 56.48 million and total U.S. memberships of 52.77.

Operating income was $209 million, while operating margin was 7.0% for Q3.

Looking ahead, Netflix expects fourth-quarter revenues of $3.27 billion on earnings of 41 cents per share.

Here’s a graph that looks at Netflix’s price, consensus, and EPS surprise:

Netflix, Inc. Price, Consensus and EPS Surprise

Netflix, Inc. Price, Consensus and EPS Surprise | Netflix, Inc. Quote

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.

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