Netflix (NFLX) Q2 Subscriber Additions and Q3 Guidance Crushes Views
(Updated - July 17, 2017 4:16 PM EDT)
Netflix, Inc. (NASDAQ: NFLX) reported Q2 EPS of $0.15, $0.01 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $2.785 billion versus the consensus estimate of $2.76 billion.
Netflix added 5.2 million streaming subscribers in Q2, to 103.95 million. U.S. additions were 1.07 million and International additions were 4.14 million. Q2 guidance was 600K U.S. and 2.6 million Intl.
Netflix sees Q3 net streaming adds 4.4 million, versus the estimates of 3.99 million. The company sees 0.75 million U.S. additions and 3.65 million International additions.
The company sees Q3 EPS of $0.32 and total revenue of $2.969 billion, versus the consensus of $0.23 and $2.87 billion.
Q2’17 free cash amounted to -$608 million vs. -$254 million in the year ago quarter and -$423 million in Q1’17. The company anticipates free cash flow of -$2.0 to -$2.5 billion for the full year 2017.
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