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Netflix Beats Wall Street Q3 Expectations But…

By John F. Heerdink, Jr.

Netflix (NFLX) closed at $286.28/share gaining .71% today but reported Q3 earnings beat after the close despite missing subscriber forecast. Netflix reported earnings of $1.47 a share on sales of $5.25 billion, up from profit of 89 cents a share on revenue of $3.91 billion a year ago as analysts expected earnings of $1.03/share on sales of $5.25 billion, according to FactSet. Total paid net streaming additions totaled 6.8M in Q3 but below the company’s expectations for 7M new subscribers during the 3 months ending in September. This was all-time Q3 record for Netflix’s net adds.

NFLX is surging in aftermarket trading now $311.33/share up 9.96%. The company further offered that new-subscriber growth will decrease y/y.

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