Netflix Inc. (NFLX) - Get Report shares are set to open at an all-time high Tuesday after reporting better-than-expected subscriber additions after the close Monday that sent the stocks soaring in after-hours trading.
Netflix shares were up 10.80% in premarket, compared with a 10.7% gain in after-hours trading Monday, and shares are expected to open at a record $179.17, extending their year-to-date gain past 31%.
Netflix reported Q2 revenue of $2.79 billion (up 32% annually) and GAAP EPS of $0.15. Revenue was slightly above a $2.76 billion consensus; EPS slightly missed a $0.16 consensus due to heavy spending, but was in-line with guidance.
Netflix reported 1.07 million U.S. streaming subscriber net adds and 4.14 million international net adds, respectively blowing away guidance for 600,000 and 2.6 million net adds. With U.S. subs standing at 51.92 million and international subs at 52 million at quarter's end, a majority of Netflix's streaming users reside outside the U.S. for the first time.
Watch More with TheStreet:
- Alpha Rising: Carly Fiorina on Leadership, Micro Financing and Her Only Regret
- Game of Numbers: Do You Have Any Idea How Big Game of Thrones Has Become?
- Millennials Are Making This Huge Mistake When Buying a Home, Say HGTV's 'Property Brothers'
- Ann Coulter Was Not A Happy Flyer This Weekend
- 5 Cars Likely To Be Resold Within The First Year
- Jim Cramer on Procter & Gamble, Amazon, Blue Apron, Tesla, Apple, BNY Mellon, Netflix, Bank of America and Goldman Sachs