Netflix Q2 2018 earnings
The company reported second-quarter earnings after the market closed on Monday. Despite beating estimates on revenue, Netflix posted a huge miss on subscriber additions. The company only added 5.15 million subscribers, about one million less than forecast. Domestic additions were only a little more than half than projected, while it just added 4.5 million subscribers internationally.
- Revenue: $3.91 billion vs. $3.94 billion estimated, according to a Thomson Reuters consensus estimate.
- Domestic subscriber additions: 670,000 vs. 1.23 million subscribers estimated, per FactSet and Street Account
- International subscriber additions: 4.5 million subscribers vs. 5.11 million subscribers estimated, per FactSet and Street Account
- Earnings per share (EPS): 85 cents (including $85 million in non-cash unrealized gain)
Netflix also issued a weaker guidance for the third quarter than expected, saying it is expecting to add 5 million subscribers total compared to an analyst estimate of more than 6 million. It is projecting 650,000 new subscribers in the U.S. and 4.35 million internationally.
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