Netflix reports record Q2 subscriber additions
Netflix Inc. (NFLX) shares jumped nearly 9% after the company reported adding a second-quarter record 5.2 million subscribers. For the second quarter, Netflix reported net income of $65.60 million, or 15 cents per share, compared with $40.76 million, or 9 cents per share during the year-earlier period. FactSet's earnings per share consensus was for 16 cents. Revenue for the quarter hit $2.79 billion, up from $2.11 billion during the same period a year ago and above FactSet's $2.76 billion consensus. The streaming giant passed the 100 million subscriber milestone, adding 1.1 million domestic subscribers and 4.1 million international subscribers. FactSet had forecast that Netflix would add 631,000 subscribers in the U.S. and Canada and 2.6 million overseas. Shares of Netflix have gained nearly 31% in the year to date, while the S&P 500 index is up nearly 10% in the year.
-Trey Williams; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
07-17-17 1622ETCopyright (c) 2017 Dow Jones & Company, Inc.