Netflix Adds 5.3 Million Subs in Q3, Beating Forecasts

Netflix Adds 5.3 Million Subs in Q3, Beating Forecasts”

Netflix is set to report earnings after the bell on Monday, and the company's stock is slipping in anticipation of the report. It also sees Q4 revenues of $3.274 billion, ahead of Wall Street's $3.15 billion view, and Q4 global net adds of 6.30 million (1.25 million in the US and 5.05 million internationally). The third quarter featured the debut of superhero series Marvel's The Defenders and a new season of drug-trafficking saga Narcos, among other programs. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Goldman Sachs has the highest price target, at $235. A tie-in with T-Mobile US Inc., giving wireless users a free subscription, is adding to the gains. That breaks down to 4.45 million new global customers and 850,000 new additions in the US. He projects fourth-quarter worldwide subscription gains will reach five million, down from an earlier estimate of 5.2 million. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.16 by ($0.01).

Q4 USA subscriber growth forecasts (net additions): Wall Street expects 1.63 million.

Led by co-founder and chief executive officer Reed Hastings, the company often uses its quarterly letter to shareholders to outline its financing plans.

Netflix posted revenue of $2.98 billion and earnings per share of 29 cents for the three months ended September 30.

The growth train doesn't appear to have many brakes, either. In 2018, Netflix plans to spend $7 billion acquiring TV shows and movies, a 17-per-cent increase over 2017, with a growing share dedicated to exclusives and original productions.

On the books, cash, cash equivalents and short-term investments totaled $1.75 billion at the end of the quarter, compared with $1.73 billion at the end of the previous fiscal year.

Shares of Netflix were up slightly in extended trading - around 2% after the report came out - which is likely a combination of those questions around US growth gauged against its strong performance this quarter.

Netflix crushed its Q3 subscriber growth targets, blowing past them on both the domestic and worldwide fronts.

So best to buckle up.

Like this


17 October 2017
A frost advisory is ahead as temperatures fall across MA
If we had seen more significant rainfall over the past month I would be more excited for the nice weather. Temperatures will fall into the 30s across the region, allowing for widespread frost by Tuesday morning.

17 October 2017
Apple iPhone X Shipments Begin, First Batch Pegged at 46500 Units
The publication says that the first shipment of iPhone X devices left Foxconn's facilities in Zhengzhou and Shanghai on Monday. Both of those countries are among the over 50 markets in which Apple will launch the iPhone X on November 3.

17 October 2017
Phil Jones Set to Sign New Manchester United Contract
Former Liverpool defender Jamie Carragher agreed with Neville and said that Klopp should have taken more risks. "It's over and I cannot change it and nobody can change it".

17 October 2017
Sears Holdings Corporation (NASDAQ:SHLD) Sees Unusual Volume Mid-Session
Investors are on alert as Sears Holdings Corporation (NASDAQ:SHLD)'s stock is experiencing unusual volume during today's trading. British Columbia Investment Management Corp acquired 156,617 shares as Akamai Technologies Inc (AKAM)'s stock declined 24.00%.

16 October 2017
The Latest The Procter & Gamble Company (PG) Insider Trading Activity
They expect this year's earnings to rise 6.63% year-over-year to $4.18, followed by 6.22% growth in the next year to $4.44. Moreover, Teacher Retirement System Of Texas has 0.9% invested in Procter & Gamble Co (NYSE:PG) for 1.50 million shares.

16 October 2017
Mazda Rotary Engine Is Indeed Returning... As A Range Extender
For Mazda, it's "whether the business conditions will be met or not ... not the big technical issues", according to Hitomi. The pure electric will target markets such as Japan, Europe and China, where an EV can get by with a shorter range.

16 October 2017
This giant crash at Talladega Superspeedway took out 16 cars
There were plenty of them in Sunday's Alabama 500 at Talladega-including the "big one" that involved 17 cars. As reported by SBNATION , Newman finished second, followed by Trevor Bayne, Joey Lagano, Aric Almirola.

16 October 2017
Thermo Fisher Scientific (TMO) Earns News Sentiment Score of 0.20
Following the transaction, the senior vice president now directly owns 67,016 shares in the company, valued at $11,796,156.32. Insight Research Mngmt Inc holds 1.07% or 10,471 shares in its portfolio. 295,769 were accumulated by Rothschild Asset Mngmt.

16 October 2017
Israeli settlers continue to attack Palestinian lands in Nablus
About 430,000 Israeli settlers live among 2.6 million Palestinians in the West Bank, occupied by Israel in the 1967 Six-Day War. About 850 Israelis in the biblical city live in heavily-guarded enclaves surrounded by tens of thousands of Palestinians.

16 October 2017
Game Of Thrones actor Roy Doltrice dies aged 94 'surrounded by family'
The actor's involvement in " Game Of Thrones " began when he narrated the audiobook editions of author George R.R. Dotrice first came to the public's attention by taking on the role in the BBC's 1971 adaptation of A.P.