Netflix (NFLX) Surges 19% on Strong Q3, Outlook

October 17, 2016 4:33 PM EDT
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Netflix (NASDAQ: NFLX) is surging 18.9% after-hours Monday following strong Q3 financial and subscriber results as well as solid Q4 guidance.

Netflix reported Q3 EPS of $0.12, $0.06 better than the analyst estimate of $0.06. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.28 billion.

Q3 U.S. subscriber additions were 370K, versus the consensus of 310K. Q3 Intl. streaming additions were 3.2 million, versus consensus of 2 million.

For Q4, Netflix forecast 5.2 million global net adds, with 1.45 million net adds in the US (cons is 1M) and 3.75 million new members internationally (cons is 3.37 million)

The company sees Q4 revenue of $2.34 billion, versus the consensus of $2.4 billion. Sees Q4 EPS of $0.13, versus the consensus of $0.07.

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