Published , by Donovan Erskine
Published , by Donovan Erskine
Netflix (NFLX), the leading company in the film and television streaming business, is out with its earnings report for the latest quarter. Despite a pretty hectic quarter for Netflix and the industry overall, the company managed to beat both revenue and EPS expectations.
Netflix divulged its earnings report in a letter to shareholders today. We see here that the company brought in $8.54 billion in revenue, narrowly beating the $8.5 billion estimate. While Wall Street expected Netflix’s earnings-per-share to be $3.49, the company ended up tallying $3.73.
The previous quarter saw Netflix navigating the (now-resolved) WGA strike and (ongoing) SAG-AFTRA strikes, which are directly addressed in the letter to shareholders.
Netflix (NFLX) stock was on the rise after the release of its earnings report, reaching as high as $384.23 after ending the day at a $350.31 valuation. We expect to hear more about the quarter during the upcoming earnings call. For more financial news, Shacknews has you covered.