Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
International Business Machines Corporation (IBM) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
International Business Machines Corporation (IBM) - $25 value - yours FREE >>
Image: Bigstock
Netflix Beats, Up 10%; IBM Mixed, Down 3%
Netflix (NFLX - Free Report) has outperformed earnings expectations for Q3 after the bell today, posting $1.47 per share versus $1.05 in the Zacks consensus (which was itself +18% year over year). Revenues came in a smidge light at $5.244 billion, in-line basically but officially down from the $5.25 billion anticipated. Shares are up big — over 7% — in immediate after-market trading.
Subscriber adds were disappointing on the U.S. side — 517K new streaming subscribers in the quarter missed the 0.8 million estimate — though at least this was a positive number, as opposed to the previous quarter which showed negative subscriber adds. Guidance for subscribers in Q4, when we expect Disney+ and Apple TV+ to come on market as well, also disappointed: 7.6 million streaming net adds are expected, down from the estimated 9.5 million.
International net adds made up the difference: 6.255 million outperformed the 6.05 million analysts were anticipating. This shows Netflix’s long-term goals of expanding its market globally is bearing fruit, even if domestic challenges look to provide headwinds going forward.
IBM Corp. (IBM - Free Report) posted mixed results in its Q3 report this afternoon, beating on the bottom line — $2.68 per share versus $2.64 expected — but missing on the top: $18.08 billion, down from the Zacks consensus $18.24 billion. This is the fifth straight quarter of shrinking sales revenue for the tech giant, as it continues to re-focus its platforms. A 2% gain in cloud revenue is decent, but not good enough to keep the stock from selling off 2.7% in the after-market.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>