Netflix, Inc. Cools Down in the Summer Quarter
- 9 years ago
High-flying streaming video titan Netflix reported mixed third-quarter results on Wednesday afternoon.
While overall subscriber growth and profit came in roughly in line with the company's guidance, domestic growth slowed again in Q3 after two quarters of acceleration.
For most companies, Netflix's results would have been perfectly satisfactory.
However, Netflix isn't most companies.
Naturally, investors are feeling a bit of a letdown after Netflix's strong first-half performance caused the stock to more than double since January.
During Q3, Netflix's revenue totaled $1.74 billion, while earnings per share reached $0.07.
Analysts had been expecting slightly better performance on both metrics: revenue of $1.75 billion and EPS of $0.08.
The results were also roughly in line with the guidance Netflix had provided back in July.
While overall subscriber growth and profit came in roughly in line with the company's guidance, domestic growth slowed again in Q3 after two quarters of acceleration.
For most companies, Netflix's results would have been perfectly satisfactory.
However, Netflix isn't most companies.
Naturally, investors are feeling a bit of a letdown after Netflix's strong first-half performance caused the stock to more than double since January.
During Q3, Netflix's revenue totaled $1.74 billion, while earnings per share reached $0.07.
Analysts had been expecting slightly better performance on both metrics: revenue of $1.75 billion and EPS of $0.08.
The results were also roughly in line with the guidance Netflix had provided back in July.