Netflix (NFLX) Lowers Q3 Domestic Subs Outlook
Tweet
Share
E-mail
Get Alerts NFLX Hot Sheet
Price: $564.80 --0%
EPS Growth %: +83.3%
Financial Fact:
General and administrative: 153.17M
Today's EPS Names:
WF, CWBC, GLTO, More
EPS Growth %: +83.3%
Financial Fact:
General and administrative: 153.17M
Today's EPS Names:
WF, CWBC, GLTO, More
Join SI Premium – FREE
Netflix, Inc. (NASDAQ: NFLX) has updated third-quarter guidance.
Reduces domestic streaming-only user count from 10 million to 9.8 million, and domestic DVD-only accounts from 3 million to 2.2 million users.
Total accounts from 22 million to 21.8 million.
Financial guidance for the quarter is unchanged, as is international subscriber guidance.
The company said:
Despite the guidance revision, we remain convinced that the splitting of our services was the right long-term strategic choice. The strategy behind the split of our services is four-fold:
(1) to create a dedicated DVD rental division that takes pride in great execution and maximizes the opportunity for disc rental over the coming decade;
(2) to enable us to improve our global streaming service even more rapidly, because it is not meshed with a domestic DVD business;
(3) to enable us, with the growth in revenue, to license more streaming content and thereby improve our streaming service even more;
(4) to remain very price aggressive, with $7.99 per month for unlimited streaming of a huge library of TV shows and movies, and $7.99 per month for unlimited DVD rentals, 1 out at-a-time.
Reduces domestic streaming-only user count from 10 million to 9.8 million, and domestic DVD-only accounts from 3 million to 2.2 million users.
Total accounts from 22 million to 21.8 million.
Financial guidance for the quarter is unchanged, as is international subscriber guidance.
The company said:
Despite the guidance revision, we remain convinced that the splitting of our services was the right long-term strategic choice. The strategy behind the split of our services is four-fold:
(1) to create a dedicated DVD rental division that takes pride in great execution and maximizes the opportunity for disc rental over the coming decade;
(2) to enable us to improve our global streaming service even more rapidly, because it is not meshed with a domestic DVD business;
(3) to enable us, with the growth in revenue, to license more streaming content and thereby improve our streaming service even more;
(4) to remain very price aggressive, with $7.99 per month for unlimited streaming of a huge library of TV shows and movies, and $7.99 per month for unlimited DVD rentals, 1 out at-a-time.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024
- What makes the S&P 500 pullback worse?
- Netflix (NFLX) bonds retain Outperform rating at Gimme Credit amid strong content ROI
Create E-mail Alert Related Categories
Guidance, Hot Guidance, Hot ListSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
