) 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.
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
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
Currently, analysts expect the company to post EPS of $0.45 on
revenue of $1.10 billion for the upcoming third-quarter.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information
you need to invest better today.
Click here to start your 14 Day Trial of Benzinga