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.
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 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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