A monster rally helped close regular trading this Tuesday, and directly following we see another slew of Q3 earnings reports from some of the leading companies in their respective industries. Plenty of noise and late-trading abound, so we will keep our focus tighter and more succinct, in the interest of timeliness.
Netflix NFLX rip-roared Q3 results following a harsh Q2 that saw the company miss subscriber growth projections. Not so this quarter: total net adds were 2 million higher than projected to 7.0 million overall. This translates to 89 cents per share reported, well above the 68 cents expected and representing 207% earnings growth year over year. Revenues of roughly $4 billion in the quarter were in-line with estimates, up around 34% year over year.
Streaming grew 36% year over year for Netflix, to $9 million in streaming sales for the quarter. Global membership has now reached a total of 137 million, and Operating Margins also came in ahead of estimates, from 10.5% expected to 12% reported. Shares are way up -- 12% at this hour, though they had increased as much as 17% upon the earnings release. For more on NFLX's earnings, click here.
We see another big beat after the closing bell today from CSX Corp. CSX , the Jacksonville, FL-based railroad company: $1.05 per share as opposed to the 94 cents expected was also an improvement of 106% on the bottom line year over year. Revenues of $3.13 billion in the quarter were up 14% year over year, as well as better than the $3.04 billion anticipated.
Operating income growth was up 49% from the year-ago quarter. However, shares are trading down slightly in the after-market. The company has not missed earnings estimates in 19 straight quarters.
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