Netflix: 3Q Earnings Snapshot

LOS GATOS, Calif. (AP) _ Netflix Inc. (NFLX) on Wednesday reported third-quarter profit of $665.2 million.

On a per-share basis, the Los Gatos, California-based company said it had profit of $1.47.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The internet video service posted revenue of $5.24 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $5.25 billion.

For the current quarter ending in December, Netflix expects its per-share earnings to be 51 cents.

The company said it expects revenue in the range of $5.44 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $5.52 billion.

Netflix shares have risen 7% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. In the final minutes of trading on Wednesday, shares hit $286.61, a drop of 17% in the last 12 months.


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The Associated Press