Netflix, Inc. NFLX shares are soaring after delivering a third-quarter earnings beat.
Third-quarter earnings came in at 89 cents per share, beating estimates by 21 cents. Sales came in at $3.999 billion, missing estimates by $1 million. The company issued fourth-quarter guidance of 23 cents per share, which does not compare to the 51-cent estimates, and sees sales of $4.2 billion.
Highlights
- Total Streaming Net Additions - 6.96 million
- U.S. Streaming Net Adds - 1.09 million
- International Streaming Net Adds - 5.87 million
- Q4 Projected Net Adds -9.4 million
Netflix reaffirmed FY2018 operating margin guidance at the lower end of the 10-11 percent range. The company sees Q4 operating margin falling from 7.5 percent in Q4 2017 to 5 percent.
Netflix shares traded around $391.63 at time of publication, up 13 percent in the after-hours session.
Iqiyi Inc IQ, considered the "Netflix of China," appeared to be moving in sympathy and was up more than 3 percent in after-hours trading.
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