Netflix Growth Slows Due To Content Delays

21 Avril, 2017, 16:28 | Author: Lucrece Courtet
  • Netflix: Nope, we don't want sports

Netflix stock was down roughly 4% in the immediate aftermath of the earnings announcement, but rebounded and was up 1.4% in after hours trading on Monday.

What's happening behind the scenes?

"We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV", Netflix said in a letter released along with the earnings figures. Annualized domestic customer growth stopped at 8.2%, while worldwide accounts increased by 39%. During which, Netflix has scored 72 million more subscribers.

Netflix Inc (NFLX.O) made a bullish forecast for subscriber additions by mid-year, a positive sign for its push to expand around the world that sent its shares toward an all-time high. Considering that the final tally of streaming subscribers fell within 0.3% of the official forecast, that miss looked more like a rounding error.

Netflix, a company that has long concentrated on on-demand, commercial-free viewing, is going to continue its efforts in that area, rather than expanding in the direction of live, ad-supported programming.

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"For the last several years we've had flat operating margins due to established markets funding global expansion with every spare dollar we had... the major indicators of our progress were member and revenue growth and U.S. contribution margins", the company said in its shareholder letter. Subscriber numbers will still be provided, but Netflix is growing into a more traditional reporting mold here. He noted that the company was up against a hard sequential comparison because the fourth quarter was particularly strong as some subscribers whose prices were raised as a result of the un-grandfathering of their plans signed back up. While the company's growth has slowed in the USA, it has moved aggressively into multiple global markets.

Netflix expects to add 2.6 million subscribers internationally next quarter - it launched in 130 additional countries a year ago - and 600,000 subscribers in the US, both which exceed analyst estimates. During the same quarter in the previous year, the company posted $0.06 earnings per share.

In terms of revenue, Netflix saw a 35% year-over-year increase to reach $2.64 billion in the first quarter, meeting expectations, and EPS was $.40 per share, above the $0.37 that analysts expected.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Following the sale, the insider now directly owns 2,170 shares in the company, valued at approximately $312,979.10.

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