For the second quarter Netflix reported earnings of $1.15 a share, beating the $1.14 a share consensus estimate from FactSet by 1 cent. Revenue grew 25.2% from the year-ago quarter to $1.34 billion, in-line with analysts' estimates for the quarter.
Netflix added 1.69 million streaming subscribers in the quarter, bringing its total subscriber numbers to 50.05 million. The company expects to add 3.69 million new streaming subscribers in the third quarter.
TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.