Netflix misses 2Q profit forecasts
Updated 11:24 pm, Monday, July 17, 2017
On a per-share basis, the Los Gatos, California-based company said it had net income of 15 cents.
The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The internet video service posted revenue of $2.79 billion in the period, which topped Street forecasts. Twelve analysts surveyed by Zacks expected $2.76 billion.
Netflix shares have risen 30 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 10 percent. In the final minutes of trading on Monday, shares hit $161.21, an increase of 64 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NFLX at https://www.zacks.com/ap/NFLX
Keywords: Netflix, Earnings Report, Priority Earnings