These Analysts Cut Their Forecasts On Netflix Following Q2 Results
Netflix Inc. (NASDAQ: NFLX ) on Thursday reported mixed second-quarter financial results and issued weak guidance for the third quarter. Netflix reported second-quarter revenue of $12.56, up 13% year-over-year. The revenue total missed a Street estimate of $12.59 billion, according to data Pro. Second-quarter earnings of 80 cents per share beat a Street consensus estimate of 79 cents per share. Netflix is guiding for third-quarter revenue of $12.86 billion, up 12% year-over-year. The company said the quarter is expected to see growth in memberships, pricing and advertising revenue. The Street estimate for third-quarter revenue is $13.01 billion. Third-quarter earnings per share are expected to be 82 cents versus a Street estimate of 84 cents. Netflix narrowed its full-year revenue guidance from a prior range of $50.70 billion to $51.70 billion to a new range of $51.00 billion to $51.4...
Netflix Inc. (NASDAQ: NFLX ) on Thursday reported mixed second-quarter financial results and issued weak guidance for the third quarter. 56, up 13% year-over-year. 59 billion, according to data Pro.
Second-quarter earnings of 80 cents per share beat a Street consensus estimate of 79 cents per share. 86 billion, up 12% year-over-year. The company said the quarter is expected to see growth in memberships, pricing and advertising revenue. 01 billion.
Third-quarter earnings per share are expected to be 82 cents versus a Street estimate of 84 cents. 40 billion. 41 billion. 06 in pre-market trading.
These analysts made changes to their price targets on Netflix following earnings announcement. Pivotal Research analyst Jeffrey Wlodarczak maintained the stock with a Hold and lowered the price target from $96 to $70. Bernstein analyst Laurent Yoon maintained the stock with an Outperform rating and cut the price target from $100 to $95. Considering buying NFLX stock?
Here’s what analysts think: Photo via Shutterstock