Netflix shares jump 14% overnight after Q3 earnings report

Netflix shares jump 14% overnight after Q3 earnings report

Netflix shares jump 14% overnight after Q3 earnings report

At around $367, Netflix shares remain below the record high of $423.21 reached in June. "We'll see how that does in terms of being able to accelerate our growth".

It came as the firm premiered a record amount of original programming, including new seasons of Orange Is The New Black and BoJack Horseman.

Netflix also announced that it plans on spending $1bn on producing new content over the next 10 years, bolstered by a new production hub to open in the New Mexico city of Albuquerque.

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The company exceeded forecasts in both United States and global markets.

Separately, in a move that could be reflective of membership trends emerging from markets like India, Netflix said free trials in some markets do not yield more subscribers or higher revenue.

"NFLX shies away from talking about any one worldwide market too specifically, but it called out growth in Asia, and we believe India is becoming a bigger factor", said JPMorgan analyst Doug Anmuth. EFG Asset Management Americas Corp.'s holdings in Netflix were worth $4,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Selection Day, the 3rd original series in India, will be released in fourth quarter, infusing new momentum to drive subs growth.

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Like other United States entertainment companies, it has identified the need to create local content as important in winning viewers in the big emerging markets likely to dominate growth over the next decade.

"If all the "Netflix Killers" out there band together and take back their franchises, that would be a serious blow to Netflix", Csathy said. It has issued a net $7.5 billion of bonds in less than three years, though that could carry a cost in a changing economic environment.

"It was a surprisingly good quarter that caught a lot of the financial community off guard", said Jim Nail, a senior analyst at Forrester Research. The stock slid 1.9 percent on Monday and is coming off a 6.1 percent drop last week, as technology stocks were battered amid a broader market sell-off from concerns over rising interest rates, escalating trade tensions and tighter monetary policy.

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Shares have surged more than two-thirds this year and closed on Tuesday at $346.40 in NY, valuing the company at nearly $154bn. "Itll probably still be the case that theyre going to stick to raising debt twice a year", he said. With plans to pour more billions of dollars into original contents, Netflix established a target for itself - it plans to add a total of 28.9 million customers this year. Wall Street anticipated earnings per share of 68 cents on sales of $4 billion. Total revenue rose to $4 billion, in line with analysts' expectations, from $2.98 billion a year earlier.

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