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Netflix Reported better-than-expected Earnings in the first quarter

21 April 2017, 04:44 | Winston Chapman

Netflix Reported better-than-expected Earnings in the first quarter

Netflix is rallying ahead of earnings (NFLX)

Dwelling on the subscriber guidance, the analyst said the company's domestic subscriber guidance of 0.6 million was ahead of his estimate of 0.21 million and the consensus estimate of 0.19 million.

The inclination has presented Netflix with more rivalry in the contest for home entertainment budgets.

In related news, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, April 18th.

Netflix CEO Reed HastingsFlickrNetflix missed its subscriber growth targets during the first quarter, blaming the shortfall on slight delays in the release dates for some of its most popular shows.

Netflix plans to spend US$1 billion (S$1.4 billion) this year on marketing to attract subscribers. While the company's growth has slowed in the USA, it has moved aggressively into multiple global markets.

In its first-quarter earnings release late Monday, Netflix Inc. Netflix concluded March with nearly 48 million users outside the U.S.

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Total revenues jumped to United States dollars 2.637 billion from 1.958 billion the year before and against the company's guidance of 2.5 billion.

Netflix, a company that has long concentrated on on-demand, commercial-free viewing, is going to continue its efforts in that area, rather than expanding in the direction of live, ad-supported programming. In Q2, Netflix expects to earn $1.14 billion from worldwide streaming and will incur a $28 million loss.

Announcing its performance, Netflix said that it had generated somewhere around $2.64 billion in revenue and $0.41 earnings per share for the fourth quarter of 2016. Earlier this month Amazon secured a deal to stream NFL Thursday Night Football games.

"That is not a strategy that we think is smart for us since we believe we can earn more viewing and satisfaction from spending that money on movies and TV shows", he said.

The world's biggest paid video service signed 4.95 million new customers last quarter, less than the 5.49 million analysts were expecting.

Netflix said Dave Chappelle: Collection 1, comprising two original stand-up performances from the comedian was its most-viewed comedy special ever. "We are making good strides in improving our content offering to match local tastes in Asia, Middle East, and Africa, but have much progress to make, like in Latin America a few years ago".



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