Netflix Pops on Earnings Beat, Strong Subscriber Additions

Shares of Netflix (NFLX) moved higher in after hours trading on the back of the video streaming giant's quarterly earnings and upbeat outlook for the current quarter.

Author:: Kurumi Fukushima
Publish date:: Jul 15, 2015 5:09 PM EDT

Keep an eye on shares of Netflix (NFLX) in Thursday’s trading session. The video streaming giant released its second-quarter financial results after the closing bell Wednesday. For the second quarter, the company posted a profit of 6 cents a share on revenue of $1.64 billion. Wall Street had expected the company to report second quarter earnings of 4 cents per share on revenue of $1.65 billion, according to analysts polled by Thomson Reuters. In the same quarter of last year, Netflix earned 16 cents a share on revenue of $1.34 billion. The company reported 3.28 million net new subscriber additions, higher compared to the 2.46 million net additions analysts were expecting, according to FactSet. Subscriber additions came in stronger than expected, with about two-thirds of the additions coming from international subscribers. TheStreet's Kurumi Fukushima reports in New York.