Netflix (NFLX) announced its most recent quarterly financial results on Monday, Oct-17-2016. NFLX said it had a profit of $0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.05. The company posted revenue of $2290.00 million in the period, compared to analysts expectations of $2281.72 million. NFLX’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on Netflix. Deutsche Bank Initiated Netflix on Oct 10, 2016 to “Sell”, Price Target of the shares are set at $90.Company shares were Reiterated by JP Morgan on Sep 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 125 from a previous price target of $116 .Netflix was Downgraded by Macquarie to ” Underperform” on Sep 13, 2016.
Netflix opened for trading at $101.59 and hit $102.099 on the upside on Friday, eventually ending the session at $101.47, with a gain of 1.24% or 1.24 points. The heightened volatility saw the trading volume jump to 95,31,056 shares. Company has a market cap of $43,503 M.
In a different news, on Oct 6, 2016, Richard N Barton (director) sold 2,800 shares at $104.01 per share price. According to the SEC, on Sep 21, 2016, Reed Hastings (CEO) sold 84,665 shares at $98.62 per share price. On Aug 10, 2016, Jay C Hoag (director) purchased 300,000 shares at $94.29 per share price, according to the Form-4 filing with the securities and exchange commission.
Netflix Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month including original series documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. Its members can play pause and resume watching all without commercials or commitments. Additionally in the United States its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.