NEW YORK (TheStreet) -- Shares of Netflix, Inc. (NFLX) are up 4.07% to $447.80 this afternoon after it was reported that CEO Reed Hastings posted on Facebook (FB) that the company has beat Time Warner's (TWX) HBO in subscriber revenue in the second quarter, adding that Netflix was "honored to be in the same league," according to CNBC.
On his Facebook page, Hastings said: "Last quarter we passed HBO in subscriber revenue ($1.146 billion vs. $1.141 billion). They still kick our ass in profits and Emmy's, but we are making progress. HBO rocks, and we are honored to be in the same league."
TheStreet Ratings team rates NETFLIX INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."