Netflix on the verge of hitting 100 million subscribers

Scott Stuber

The results exceeded Wall Street expectations. Analysts expected about the same - about $2.64 billion in revenue and $0.37 earnings per share.

According to the Wall Street analysts, Netflix's 1Q earnings per share (EPS) is likely to clock in at 38 cents, marking a six-fold increase as compared to the company's 1QFY16 EPS of six cents. The company earned $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. These estimates imply just a little over 6x increase from the year-ago quarter when EPS came in at just 6 cents per share. Netflix looks set to extend its history of delivering earnings surprises, with the current whisper number implying an EPS of 40 cents per share, good for a 3 cent, or 8%, earnings surprise.

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In related news, General Counsel David A. Hyman sold 5,005 shares of the business's stock in a transaction on Friday, February 10th. Following the transaction, the insider now owns 21,756 shares of the company's stock, valued at approximately $3,099,142.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reed Hastings sold 89,502 shares of the business's stock in a transaction on Monday, March 20th. The shares were sold at an average price of $146.87, for a total value of $1,468,700.00. The disclosure for this sale can be found here. Stock traders acquired 7,517 call options on the company. Finally, Ausdal Financial Partners Inc. raised its position in Netflix by 15.4% in the third quarter. The stock had a trading volume of 3,685,789 shares. Sigma Planning Corp increased its stake in shares of Netflix by 0.5% in the third quarter. In the last ninety days, insiders have sold 339,183 shares of company stock worth $47,764,316. Edmond DE Rothschild Italia SGR SPA increased its stake in Netflix by 0.9% in the third quarter. RPG Investment Advisory LLC now owns 32,154 shares of the Internet television network's stock worth $3,168,000 after buying an additional 11,574 shares during the period. Formidable Asset Management LLC increased its stake in Netflix by 0.8% in the fourth quarter. First Trust Advisors LP now owns 1,958,697 shares of the Internet television network's stock valued at $193,030,000 after buying an additional 117,557 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Netflix by 408.4% in the first quarter. Cornerstone Advisors Inc. now owns 1,674 shares of the Internet television network's stock worth $165,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 80.42% of the company's stock.

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