Netflix (NASDAQ:NFLX) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Netflix (NASDAQ:NFLX) announced its quarterly earnings data on Monday. The Internet television network reported $2.97 EPS for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.19), MarketWatch Earnings reports. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. Netflix had a net margin of 14.24% and a return on equity of 34.47%. Netflix’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 EPS.

Shares of NFLX traded down $17.17 during mid-day trading on Wednesday, reaching $513.88. The company had a trading volume of 623,343 shares, compared to its average volume of 3,244,283. The firm has a market capitalization of $227.85 billion, a PE ratio of 61.76, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The company’s fifty day simple moving average is $510.50. Netflix has a fifty-two week low of $458.60 and a fifty-two week high of $593.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 1.27.

A number of equities research analysts recently commented on NFLX shares. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Securities reduced their price objective on shares of Netflix from $630.00 to $600.00 in a research report on Wednesday, April 21st. Argus upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $650.00 price objective for the company in a research report on Tuesday, March 23rd. Edward Jones started coverage on shares of Netflix in a research report on Friday, June 25th. They issued a “hold” rating for the company. Finally, KeyCorp reduced their price objective on shares of Netflix from $650.00 to $645.00 and set an “overweight” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $600.78.

In other Netflix news, Director Jay C. Hoag sold 2,639 shares of Netflix stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $491.30, for a total value of $1,296,540.70. Following the transaction, the director now owns 1,309 shares in the company, valued at approximately $643,111.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.68% of the stock is owned by company insiders.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Earnings History for Netflix (NASDAQ:NFLX)

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