Netflix, Inc. NFLX reports earnings on Wednesday afternoon. The company will hold a conference call at 6:00PM ET; below is a live blog of the events.
See a live YouTube feed of the earnings event at the bottom of this story.
06:26:08pm: Sarandos isn't seeing any evidence there's reluctance for networks/studios to sell content to Netflix as ratings plunge. "We are very healthy for the business."
06:25:30pm: Hastings: Netflix is learning how to use real-time video and auto-starting so that things are easier.
06:24:51pm: Sarandos said that "The Interview" was a "beautiful possibility for future disruptions in release patterns."
06:23:21pm: Sarandos said that about 1/3 of viewing on Netflix still comprises of movies.
06:22:47pm: Sarandos: "We're really excited about the [Disney] output deal." He said it's global, tentpole, is family and is a "great brand to bring comfort to families that subscribe to Netflix."
06:21:15pm: Wells: We're unable to know the licensing amount on films from Disney, other studios.
06:20:50pm: Wells is comfortable with the content obligations because it's working, has raised engagement. He also said Netflix is scaling along with the obligations.
06:19:11pm: Hastings: VPN is "less bad" than piracy, but the company is focused on getting global quickly. He thinks that will help Netflix move away from this issue quickly. Sarandos added that in the piracy capitals of the world, Netflix is winning. He said the best way to make VPN a non-issue is through global licensing, which the company is pursuing.
06:18:01pm: Wells: "We've said we're committing to running the business at global break-even and we have ambitious plans to launch international."
06:17:33pm: Sarandos: We're anxious to do business in China. He indicated that the company is not opposed to partnerships.
06:16:52pm: Hastings: In addition to subscriber growth, Netflix is also enjoying engagement growth.
06:15:32pm: Hastings: Consumers want the benefit of choice that Internet TV provides. Wells said there was no particular market that drove its outperformance relative to its forecast.
06:14:18pm: Hastings on France, Germany and other new markets: "In all of these [new] markets…we're leading relative to competitors."
06:12:35pm: Hastings: "We've got a great mix of pricing plans and options. For those who have a new 4K television, we're the leading service in the world for 4K."
06:10:23pm: Chief Content Officer Ted Sarandos: "We're seeing real global value from licensing shows in multiple territories.
06:09:12pm: Wells said Netflix is getting smarter at how it puts its ad dollars to use.
06:06:55pm: Netflix is shifting marketing to international, things it can grow faster internationally than in the US.
06:06:14pm: CFO David Wells: "There's absolutely an improvement driven by growth. We're growing revenue faster than we're growing our expenses.
06:05:38pm: Hastings: "All the internet services, HBO Now, Netflix and Hulu, are great value in comparison to the big bundle."
06:04:49pm: Hastings: The really big upside is international growth. Anticipates 60-90m subscribers domestically.
06:04:17pm: CEO Reed Hastings: Netflix's original content has compounded to push the firm forward. All Internet TV is growing. The rise of competitors is only creating a bigger ecosystem.
06:01:12pm: The call has begun.
05:59:40pm: Cody Willard, chairman of Scutify (a financial social network), thinks Netflix could reach 150 million subscribers in five years.
04:33:59pm: Netflix net additions in quarter (4.88M) appear responsible for stock move after-hours. Netflix guidance had projected 4.05M additions in the quarter.
04:33:43pm: From re/code:
"A first look at Q1 Netflix earnings: The streaming video company earned 38 cents per share on revenue of $1.57 billion. Analysts were expecting 69 cents and $1.57 billion. But Netflix says that its earnings numbers were affected by a foreign exchange loss, and that if you factor that out its earnings would have been 77 cents a share."
"The market buys it, apparently: Shares are up 13 percent after hours."
04:30:22pm: Multiple outlets reporting Netflix's un-adjusted EPS figure of $0.38.
04:07:25pm: Netflix Shares Up 12% to ~$533 in Post-Market Session
04:07:22pm: Netflix Q1 International Streaming Revenue $415M
04:05:53pm: Netflix Reports Q1 Total Members 62.27M, Net Additions 4.88M
04:07:11pm: Netflix Reports Q1 Adj. EPS $0.77 (Non-GAAP Figure Excludes Forex and Income Tax Effect)
04:06:34pm: Netflix Reports Q1 Sales $1.573B vs $1.57B Est.
04:05:53pm: Netflix Sees Q2 EPS $0.26
04:03:11pm: URL to Netflix Q1 Results, Shareholder Letter
04:02:19pm: Netflix Release for Q1 Results is Out; However, Release Includes Link to Investor Relations Page and Not Actual Results; IR is Having Trouble Loading
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