Netflix Stock Earnings: NFLX sinks over 5% on revenue miss, lower sales guidance
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CLAIM OFFER- Netflix beats EPS guidance for Q2.
- Revenue misses by $100 million.
- Q3 guidance misses consensus by $160 million.
- Q3 EPS guidance beats consensus by 9%.
Netflix (NFLX) stock sank 5% initially in the afterhours trade on Wednesday when the king of streaming missed Wall Street consensus for second-quarter revenue. Netflix reported $8.19 billion in sales – about $100 million below analyst expectations. NFLX stock dropped from $477 to $455.
On the other, hand earnings came in well above consensus. Netflix reported $3.29 in GAAP earnings per share (EPS), which beat the Wall Street average forecast by 44 cents.
Revenue rose 3% YoY and was driven by a 6% increase in average paid memberships. Total worldwide paid memberships rose 5.9 million to 238.4 million.
Netflix management guided for third-quarter revenue of $8.52 billion, which was about $160 million below the prior consensus view of analysts. However, guidance for diluted EPS came in at $3.52, about 9% above the prior consensus.
- Netflix beats EPS guidance for Q2.
- Revenue misses by $100 million.
- Q3 guidance misses consensus by $160 million.
- Q3 EPS guidance beats consensus by 9%.
Netflix (NFLX) stock sank 5% initially in the afterhours trade on Wednesday when the king of streaming missed Wall Street consensus for second-quarter revenue. Netflix reported $8.19 billion in sales – about $100 million below analyst expectations. NFLX stock dropped from $477 to $455.
On the other, hand earnings came in well above consensus. Netflix reported $3.29 in GAAP earnings per share (EPS), which beat the Wall Street average forecast by 44 cents.
Revenue rose 3% YoY and was driven by a 6% increase in average paid memberships. Total worldwide paid memberships rose 5.9 million to 238.4 million.
Netflix management guided for third-quarter revenue of $8.52 billion, which was about $160 million below the prior consensus view of analysts. However, guidance for diluted EPS came in at $3.52, about 9% above the prior consensus.
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