Netflix, Inc. will deliver its earnings for the three months through June 2017 on Monday afternoon, and Wall Street is ready. The video streaming firm is going to be something of a bellwether for the tech world this time around. Though its growth and earnings have little to do with those of Google or Facebook, the firm’s stock market position is very similar to firms like that.
Netflix earnings Live Update
We’ll be putting all of the numbers from the Netflix, Inc. earnings report right here as they come in.
16:00 EST: Thanks for joining us! We’re not sure how long the firm’s going to take to get these numbers out, but stick with us!
16:06 EST: Here are the numbers! Looks like a beat, stock is way way up!
16:07 EST: EPS comes in at 15 cents per share. That’s a little below, but subs numbers are massive.
16:07 EST: 5.2M new subscribers, way ahead of 3.1 million or so forecast!
16:08 EST: Revs are up to $2.79 billion. Stock is up 8 percent in after market trading right now.
16:09 EST: Netflix letter makes special mention of Glow, and some Spanish language shows.
16:11 EST: Lots of the new subs may be coming from Latin America, and Netflix still has room to grow there.
16:15 EST: That leaves Netflix with more than 50 percent international subscribers. That’s a big first for the firm.
16:17 EST: Big cash flow losses, but investors don’t care at all, still up over 8 percent!
16:25 EST: Netflix just published a document/presentation on how it accounts for its content buys. This may be the best release of the night for some investors!
16:27 EST: The accounting release appears to be a defensive move from Netflix. The firm’s execs must have been worried about that free cash flow number.
16:28 EST: The firm really is burning cash at a tremendous rate. I guess seeing it as investment, and giving guidelines on how that investment amortizes over time, helps justify that.
16:30 EST: Netflix will post a recorded earnings call on Youtube later on today. These tech companies sure are changing the way things work!
Earnings expectations
Netflix is expected to show earnings of 16 cents per share for the three month period. That’s compared to the 12 cent EPS reported in the same quarter of last year. The June quarter is recorded as the second in the firm’s financial year.
Revenue is slated to come in at 2.76 billion for the quarter. That’s much higher than the $2.11 billion the firm managed to bring in in last year’s second quarter.
The really important number for Netflix stock, however, is probably the firm’s subscriber numbers. Whisper numbers on Wall Street suggest that the firm is expected to have had a great quarter. They’ll be looking for really big increases after a blockbuster quarter for content and marketing. The number to watch for is an expected 630,000 increase in US subscribers. Wall Street will be looking for more than 2.5 million new international subscribers on top of that.
Netflix continues to boom
Though its stock market performance in recent months may not be as strong as in previous years, Netflix, Inc. is still a strong growth company. Shares have gained more than 30 percent since the start of the year.
Overall analysts are pretty bullish about the firm’s opportunities going forward. The median price target on Netflix, Inc. stock sits just above the firm’s opening price on Monday at $167.50. A large number of Wall Street research analysts following the firm reckon that now is the time to bet on its future.
Of the 43 analysts polled about Netflix stock by the Financial Times, 24 either recommended investors Buy the stock or predicted that it will Outperform. Another 16 thought that now was the time to Hold shares in the streaming firm.
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