published on October 18, 2016 - 8:47 AM
Written by The Business Journal Staff

(AP) — Netflix Inc. (NFLX) on Monday reported third-quarter profit of $51.5 million.


On a per-share basis, the Los Gatos, California-based company said it had net income of 12 cents.

The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The internet video service posted revenue of $2.29 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $2.28 billion.

Netflix shares have fallen 13 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 4 percent. In the final minutes of trading on Monday, shares hit $99.80, up less than 1 percent for the year.


e-Newsletter Signup

Our weekly poll

Do you agree with Gov. Newsom's decision to tighten lockdown restrictions?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY