Netflix (NFLX - Free Report) just released its first quarter financial results, posting adjusted earnings of $0.64 per share and revenues of $3.7 billion.
Netflix is currently a Zacks Rank #2 (Buy), which is subject to change based on today’s results. Netflix shares had climbed 41% over the last 12 weeks, but slipped roughly 3% during the last month.
Shares of Netflix were down 1.24% on Monday prior to the release of its first quarter earnings results. Netflix stock is currently up 6.2% to $326.98 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $0.64 per share, just beating the Zacks Consensus Estimate of 0.63 per share.
Beat revenue estimates. The company saw revenue figures of $3.7 billion, topping our consensus estimate of $3.69 billion.
Netflix’s revenues jumped 40.4% from $2.64 billion in the year-ago period. Meanwhile, the streaming giant’s adjusted Q1 earnings surged from $0.40 per share.
Netflix added 7.41 million new members, which is up 50% year over year, and topped the company’s forecast of 6.35 million. The streaming company closed the quarter with 125 million total members.
Looking forward to the second quarter, Netflix expects to add 6.2 million new members. The company noted that it is targeting a full-year operating margin between 10% and 11%.
Here’s a graph that looks at NFLX’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on NFLX’s earnings report!
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