Add as a preferred source on GoogleNeedham Downgrades Netflix to Hold After Third-Quarter Results
Netflix reported $12.874 billion in third-quarter revenue, up 11.8% year over year, and diluted earnings of $0.87 per share.
Needham downgraded Netflix to Hold after the streaming company released its third-quarter results.
Netflix recorded $12.874 billion in revenue for the quarter ended Sept. 30, up 11.8% from a year earlier. Diluted earnings were $0.87 per share, above the $0.82 analysts expected. Operating margin reached 34.6%, compared with 28.2% a year earlier; expense timing helped Netflix exceed its margin forecast.
The post-earnings share decline reached 5.2% at 12:40 p.m. ET (16:40 UTC) Wednesday, Oct. 21, after Netflix lowered its advertising forecast and issued fourth-quarter guidance below analyst expectations.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.