Updated from 8:53 a.m to provide comments about stock price in the fourth paragraph.NEW YORK ( TheStreet) -- Love him or hate him, Netflix ( NFLX) CEO Reed Hastings delivers not only a great product but great theatre as well. When discussing Netflix's third-quarter earnings, which saw the Los Gatos, Calif.-based company announce it had 31.1 million domestic streaming subscribers, Hastings talked about the company's stock price, which has zoomed more than 280% year to date, not taking into account Tuesday's sharp run up. "In calendar year 2003, we were the highest performing stock on Nasdaq," Hastings wrote in a letter. "We had solid results compounded by momentum-investor-fueled euphoria. Some of the euphoria today feels like 2003." NFLX data by YCharts
It's certainly odd for a company CEO to mention his share price in that manner, and Hastings was questioned about it again on the earnings call. However, given the exceptionally strong performance and lofty goals, Hastings appears to be less concerned about the company's share price at any given time and more about the long-term viability, and ultimately profitability, of Netflix. Investors appeared to be heeding Hastings' words. Shares opened at $387.93, but had given up all of their gains, and were trading at $354.81, down slightly on the day, by 10:18 a.m. The company earned 52 cents a share on $1.106 billion in revenue in the third quarter, as streaming margins were 23.7%, up from 22.5% in the second quarter. For the fourth quarter, Netflix expects to generate between 47 cents and 73 cents a share in earnings, with revenue expected to be between $941 million and $965 million. It also expects streaming margins to be 23.2%, while ending the quarter with between 32.7 million and 33.5 million domestic streaming subscribers. Driving the company's growth is original content, of which Hastings has said the company plans to "double our investment in original content (though still representing less than 10% of our overall global content expense)" in 2014. House of Cards, Orange is the New Black (which is now Netflix's top original show), Derek and Hemlock Grove, and others are driving more people to pay $7.99 per month for Netflix's service.