Netflix reported a solid Q1, and after an initial dip, shares rose slightly after hours.
Netflix finished March with 13.97 million subscribers, ahead of expectations. Revenue and EPS were also solid, and guidance strong.
Interesting stat: “Percentage of subscribers who watched instantly more than 15 minutes of a TV episode or movie in the first quarter of 2010 was 55 per cent compared to 36 per cent for the same period of 2009 and 48 per cent for the fourth quarter of 2009.”
We’ll tune into Netflix’s earnings call at 6 p.m. ET and update with any interesting information.
- Revenue: $493.7 million vs. $493 million consensus, $490-496 million guidance
- EPS: $0.59 vs. $0.54 consensus, $0.47-0.58 guidance
- Subscribers: 14.0 million vs. 13.7 million consensus, 13.6-13.8 million guidance
- Q2 sub guidance: 14.7-15.0 million vs. 14.2 million consensus
- 2010 sub guidance: 16.5-17.3 million vs. 16.1 million consensus
Here’s Citi analyst Mark Mahaney’s “Cheat Sheet” for Netflix earnings.
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