Mark Cuban Still Long Netflix After Q3 Earnings

Netflix Inc NFLX soared Thursday after exceeding third-quarter bottom-line expectations.

Earnings per share came in at $1.47 — far above $1.04 estimates — despite a sales miss. Global streaming paid memberships also rose 19.2%. Paid net adds of 6.8 million fell short of the company's guidance for 7 million but surpassed last year's third-quarter sum of 6.1 million.

The performance and stock action led Macquarie to downgrade the stock, while Guggenheim, Bernstein, Piper Jaffray, Cowen and Bank of America lowered their price targets.

But some bulls aren’t ready to cash out yet.

"I'm still long all my shares," billionaire Mark Cuban told Benzinga in an email. The stock has been one of his top holdings for years.

Cuban explained his thoughts on the streaming wars in tweet back in September:

At time of publication, Netflix shares were trading up 6.6% at $306.36.

Related Links:

Mark Cuban, Steve Case Discuss Startup Statistics, Investments And Silicon Valley

Survey: Teens Spend More Time On YouTube Than Netflix

Photo by Gage Skidmore/Wikimedia.