Netflix (NFLX) Trades Higher; Latest Figures Give Investors Hope

July 5, 2012 9:57 AM EDT
Netflix (Nasdaq: NFLX) is trading higher early in the session Thursday following positive chatter from its CEO Reed Hastings.

According to a Facebook post, Hastings lauded content chief Ted Sarandos for recent work bringing House of Cards and Arrested Development to the company.

Based on the comments, an analyst from BTIG calculated that users watched 80 minutes per day of Netflix on average, compared with 64 minutes per day for the last quarter of 2011. This puts Netflix at number seven on the list of most watched networks inclusive of broadcast and cable networks, from 15th in the fourth-quarter last year. Numbers also put Netflix at number two among U.S. cable networks.

Amid the good news, there's till plenty of upside left in Netflix; shares were around $300 at this time last year. Today, the stock is about 7 percent higher on the session, as broader markets continued to get pressured.

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