Netflix earnings beat targets; shares jump SAN FR
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Posted On: 10/21/2013 5:06:50 PM
Netflix earnings beat targets; shares jump
SAN FRANCISCO (MarketWatch) – Netflix Inc. said Monday afternoon that third-quarter profits tripled — beating Wall Street’s estimates. Total domestic subscribers came in at 31.09 million for the quarter, on the high side of the company’s predicted range of 30.5 million and 31.3 million. For the quarter ended Sept. 30, Netflix (NASDAQ:NFLX) reported net income of $32 million, or 52 cents per share, compared to net income of $8 million, or 13 cents per share, for the same period last year. Revenue grew 22% to $1.1 billion. Analysts were expecting earnings of 48 cents per share on revenue of $1.1 billion, according to consensus forecasts from FactSet. Netflix shares jumped more than 9% in after-hours trades following the report.
SAN FRANCISCO (MarketWatch) – Netflix Inc. said Monday afternoon that third-quarter profits tripled — beating Wall Street’s estimates. Total domestic subscribers came in at 31.09 million for the quarter, on the high side of the company’s predicted range of 30.5 million and 31.3 million. For the quarter ended Sept. 30, Netflix (NASDAQ:NFLX) reported net income of $32 million, or 52 cents per share, compared to net income of $8 million, or 13 cents per share, for the same period last year. Revenue grew 22% to $1.1 billion. Analysts were expecting earnings of 48 cents per share on revenue of $1.1 billion, according to consensus forecasts from FactSet. Netflix shares jumped more than 9% in after-hours trades following the report.
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