• Company News: Netflix (NFLX) quarterly earnings miss analysts’ estimates

Market news

21 July 2021

Company News: Netflix (NFLX) quarterly earnings miss analysts’ estimates

Netflix (NFLX) reported Q2 FY 2021 earnings of $2.97 per share (versus $1.59 per share in Q2 FY 2020), missing analysts’ consensus estimate of $3.16 per share.

The company’s quarterly revenues amounted to $7.342 bln (+19.4% y/y), roughly in line with analysts’ consensus estimate of $7.325 bln.

Its global streaming paid net adds were +1.54 mln versus +1.00 mln prior guidance.

The company issued guidance for Q3 FY 2021, projecting EPS of $2.55 versus analysts’ consensus estimate of $2.18 and revenues of $7.477 bln versus analysts’ consensus estimate of $7.48 bln. It also guided to Q3 FY 2021 net adds of 3.5 mln.

NFLX rose to $531.88 (+0.16%) in pre-market trading.

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