Netflix Soars on Quarterly Report

Netflix (NFLX) is up 8% after hours today, after rising 3% during trading hours. The reasoning behind this: their quarterly report.

Netflix’s quarterly report this afternoon was astounding. Here are the major points:

  • Earnings per Share of 41 cents (41 expected)
  • $3.29 billion in revenue ($3.28 expected)
  • 8.33 million new subscribers (6.39 expected)

A year ago, Netflix only made 15 cents per share and $2.48 billion in revenue. With the new money, Netflix plans to invest around $8 billion in content.

While these results may seem good, many analysts are predicting a decline later in the year when Disney released their new streaming service. However, Netflix still provided bullish Q1 projections, expecting a growth in both revenue and EPS. Netflix stock is up over 66% year over year.

Full a full breakdown, read CNBC’s article.

About Holden

Holden is the creator of holdencasey.com. He is the lead editor and consistently writes about politics and finance. He often writes unbiasedly, but occasionally provides a liberal viewpoint in his work.
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