Netflix (NFLX) Investors Hit Rewind on Disappointing Q3 Results, Q4 Guidance
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Price: $79.59 -0.69%
Financial Fact:
General and administrative: 153.17M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
General and administrative: 153.17M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Netflix, Inc. (NASDAQ: NFLX) are getting torpedoed after-hours Tuesday after reporting disappointing third quarter results and guidance.
Netflix reported global revenues of $905 million, up from the $822 million reported last year and in-line with the Wall Street consensus of $904.9 million. The domestic steaming business contributed $556 million to revenues, the international streaming contributed $78 million and the domestic DVD business contributed $271 million.
The company posted net income in the quarter of $8 million, or $0.13 per share, versus the consensus of $0.04.
Global streaming membership grew by nearly 2 million to 29 million. Total domestic steaming subscribers grew to 25.1 million from 21.45 million last year and 23.94 million last quarter.
Looking ahead, Netflix sees the U.S. membership increasing to between 26.4 and 27.1 million, up more than 20% year over year. This is below the company's prior goal of adding 7 million domestic straming subscribers in the year, which would have brought the number to roughly 28.7 million.
Also for the fourth quarter the company sees a loss of $0.23 to a profit of $0.04, which compares to the consensus of a loss of $0.08. The company sees revenues of $919 to $943 million versus the consensus of $942.4 million.
Shares of Netflix last traded at $56.85, down 16.7 percent.
Netflix reported global revenues of $905 million, up from the $822 million reported last year and in-line with the Wall Street consensus of $904.9 million. The domestic steaming business contributed $556 million to revenues, the international streaming contributed $78 million and the domestic DVD business contributed $271 million.
The company posted net income in the quarter of $8 million, or $0.13 per share, versus the consensus of $0.04.
Global streaming membership grew by nearly 2 million to 29 million. Total domestic steaming subscribers grew to 25.1 million from 21.45 million last year and 23.94 million last quarter.
Looking ahead, Netflix sees the U.S. membership increasing to between 26.4 and 27.1 million, up more than 20% year over year. This is below the company's prior goal of adding 7 million domestic straming subscribers in the year, which would have brought the number to roughly 28.7 million.
Also for the fourth quarter the company sees a loss of $0.23 to a profit of $0.04, which compares to the consensus of a loss of $0.08. The company sees revenues of $919 to $943 million versus the consensus of $942.4 million.
Shares of Netflix last traded at $56.85, down 16.7 percent.
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