Netflix
(Marketwatch) Netflix Inc. reported a dramatic slowdown in new subscribers Tuesday and widely missed earnings expectations, sending shares on a plunge in after-hours trading.
Netflix (NFLX)
Reported 2.2 million net new subscribers in its third quarter, after two consecutive quarters topping the 10 million mark
Net earnings of $790 million, or $1.74 a share, compared with net income of $1.47 a share in the year-ago quarter. FactSet had expected adjusted earnings of $2.13 a share on sales of $6.39 billion.
Revenue improved to $6.44 billion from $5.25 billion a year ago.
Free cash flow was $1.1 billion in the third quarter, after losing more than $550 million by that metric in the same quarter a year ago. Well ahead of street expectations of $241 million.
We can only surmise a subscription hike is in the offing.
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