Netflix Volatile On Lower Subscriber Additions
Netflix, Inc. (NASDAQ: NFLX) released its highly anticipated first quarter earnings results after Monday's market close with subscriber growth numbers squarely in focus.
- Netflix reported Q1 EPS $0.40, beating by $0.03
- Sales came in-line at $2.64 billion
- Net streaming additions of 4.95 million
- Sees Q2 operating margin at 4.4%
- Sees 1H 2017 net additions of 8.15 million vs 8.42 million net additions in the same period of last year
- International streaming net additions were down 22% YoY
- Expecting 3.2 million net adds in Q2
In response to Amazon.com, Inc.(NASDAQ: AMZN) recent Thursday Night Football streaming contract, Netflix said any move similar to Amazon’s move into NFL football “is not a strategy that we think is smart for us.”
Netflix shares fell more than 3 percent after hours following the release, but began to recover. At time of publication, the stcok was trading at $144.68, down about 1.2 percent in the after-hours session.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.