Netflix (NASDAQ:NFLX) released its earnings results on Wednesday. The Internet television network reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04, RTT News reports. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Netflix updated its Q3 2019 guidance to $1.04-1.04 EPS and its Q3 guidance to $1.04 EPS.
Shares of NASDAQ NFLX traded down $3.55 during midday trading on Wednesday, reaching $362.44. 8,034,171 shares of the stock were exchanged, compared to its average volume of 7,872,025. The business’s 50-day moving average is $362.60. The stock has a market capitalization of $160.28 billion, a P/E ratio of 135.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.26. Netflix has a 12 month low of $231.23 and a 12 month high of $386.80. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81.
In related news, Director Ann Mather sold 1,208 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the sale, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reed Hastings sold 56,966 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the completion of the sale, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,486 shares of company stock worth $60,955,416. Insiders own 3.72% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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