Courtesy of Benzinga.
Netflix (NASDAQ: NFLX) released its fiscal second-quarter earnings results after the closing bell on Monday.
The company reported earnings per share that were well ahead of consensus estimates, but revenue for the quarter came in below expectations. In late trade, the stock was last trading down almost eight percent to $242.43.
Fiscal Q2 Results
Netflix reported net income of $29.5 million or $0.49 per share, compared to $6 million or $0.11 per share, in last year’s corresponding period. This easily beat Wall Street analysts’ consensus EPS estimates of $0.40.
Sales in the quarter were $1.069 billion from $889 million in last year’s second-quarter. This just missed Street consensus revenue estimates of $1.07 billion.
The company added 630,000 U.S. subscribers in the quarter, which was slightly above the mid-range of Netflix’s guidance from April. Many investors, however, expected that subscriber growth would be even higher. The gains in the quarter pushed total U.S. subscriptions to 29.8 million.
Q3 Guidance
Looking ahead, Netflix guided for third-quarter net income of $18 million to $34 million, or $0.30 to $0.56 per share. Domestic streaming revenue is expected to be between $693 million and $701 million.
International streaming revenue is anticipated to be between $170 million and $184 million, and domestic DVD sales are expected between $96 million and $108 million for the fiscal third-quarter.
Currently, analysts expect the company to post EPS of $0.45 on revenue of $1.10 billion for the upcoming third-quarter.
