Netflix (NFLX): Earnings Preview - Needham
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Needham & Company analyst, Laura Martin, reiterated her Hold rating on shares of Netflix (NASDAQ: NFLX) and expects revenue of $2.28B (up 31% y/y), Operating Income of $64.1mm (down 13% y/y), Net Income of $22mm (down 25% y/y), and GAAP EPS of $0.05 (down 25% y/y).
Domestic Streaming revenue is expected to be $1.307B (up 23% y/y), with a Contribution Profit of $460MM (up 34% y/y). US paid member growth in 3Q16 should be 380K (up from 290K adds in 2Q16), and NFLX should end the quarter at 46.4MM paid members (up 1% q/q).
International Streaming Revenue should be $845.9MM (up 64% y/y), with a Contribution Loss of $95.2MM (worse than a Loss of $67.6mm in 3Q15). International paid member growth should be 2.08MM (up 9.5% q/q from in 2Q16), and NFLX should end the quarter with 36MM paid members (up 6% q/q).
Domestic DVD Revenue should be $129.8MM (down 18% y/y), with a Contribution Profit of $66.8MM (down 16% y/y).
Due to the neutral rating, the analyst does not have a published price target.
Shares of Netflix closed at $103.33 yesterday.
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