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Netflix Beats Earnings Projections While Meeting Sales Estimates

|Includes:Netflix, Inc. (NFLX)

Originally published at www.seclive.com

Filing in Focus: Netflix 8-K, July 22, 2013

Netflix (NASDAQ:NFLX) announced its quarterly results, detailed in its most recent Letter to Shareholders filed as a part of its form 8-K filing, reporting sales of $1.07B, in-line with expectations while beating last year's quarter of $889M. Earnings per share jumped from $0.11 this quarter last year to $0.49 per share this quarter, beating analyst expectations of $0.40 per share. Netflix added 630,000 subscribers this quarter, which CEO Reed Hastings attributes to shows like Arrested Development and House of Cards, which were both nominated for Emmy Awards recently. As of June 30, 2013, the company has $4.4B in assets with $3.4B in total liabilities. For Netflix third quarter guidance, the company projects earnings per share between $0.30 and $0.56.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: NFLX