It always exciting too see beloved companies comeback after a harsh quarter. This is really the case of Netflix ($NFLX). There has been a lot of talk about them during the last week in the SprinkleBit community, resulting in several long positions. Well, those savvy investors can now smile all the way to the bank with a boost of over $70 per share since last week.
Netflix ($NFLX) reported this afternoon for its 4th quarter and revenue slightly light of expectations, but earnings per share that crushed estimates, on higher-than-expected domestic subscriber additions.
Revenue for the fourth quarter which ended in December rose to $1.48 billion, and Earnings Per share (EPS) landed at 72 cents, on an adjusted basis. The street expected an EPS of $0.45 on 1.49 billion in revenue
Analysts had been modeling $1.49 billion in revenue and 45 cents per share in net income.
The pro-forma EPS excludes a one-time “release of tax accrual” of $38.6 million. Including that one-time item, the company yielded $1.35 per share in net income.
The company added 1.9 million domestic subscribers to its streaming video service. The street estimated 1.85 million. For the current quarter, the company forecast net subscriber additions of 1.8 million in the US alone. Internationally, the company added 2.43 million streaming subscribers, on a net basis, and forecast a 2.25 million increase this quarter.
The stock is up $55.66, over 16%, at $394.02 (at the time of this publication).
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