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Netflix Misses On Subs, Guides Lower; Burns $422 Million But Is Optimistic Thanks To Adam Sandler
zerohedge.com / by Tyler Durden / Apr 17, 2017 4:27 PM
Last quarter investors forgot the negative cash-flow, forgot the soaring cost of content, forgot the rampant competition, and forgot fact that Netflix slashed its domestic subscriber growth expectations, and just bought-the-f##king-record-high because international subscriber growth soared. This quarter, however, they may be less gullible because that surge in international subscribers not only did not happen, but missed by a whopping 370K subs, missing both the street forecast of 3.9 million and the company’s own guidance of 3.7 million. Adding to the pain, domestic subscribers of 1.42 million also missed consensus of 1.59 million and the company’s forecast of 1.5 million.
Then, unlike last quarter, NFLX’s outlook was far less euphoric, and the company now sees Q2 EPS of 15c, 8c below consensus. Revenue was also fractionally below expectations with the company expecting sasles of 2.755BN in Q2, below the 2.76BN est.
Results summary:
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