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Oct. 16, 2017, 4:34 p.m. EDT

Netflix shares gain after company adds more subscribers than expected in Q3

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By Trey Williams

Netflix Inc. /zigman2/quotes/202353025/composite NFLX -21.79% shares popped more than 2.5% after the streaming giant reported earnings for the third quarter in which it added more subscribers than expected. Netflix reported net income of $129.6 million, or 29 cents per share, up from income of $51.5 million, or 12 cents per share during the same quarter a year ago. FactSet's earnings consensus was for 32 cents per share. Revenue for the third quarter was $2.98 billion, up from $2.29 billion a year ago and slightly above FactSet's consensus of $2.97. Netflix continued added 5.3 million subscribers in the quarter, an increase compared with the 3.6 million the company added during the same quarter last year. The company had guided for net additions of 4.4 million and FactSet's subscriber adds consensus was 4.5 million. Shares of Netflix have gained nearly 64% in the year to date, while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.89% is up more than 14% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% is up close to 16%.

US : U.S.: Nasdaq
$ 397.50
-110.75 -21.79%
Volume: 58.90M
Jan. 21, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$176.07 billion
Rev. per Employee
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
US : Dow Jones Global
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p

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