- Netflix (NASDAQ:NFLX) jumps to a new all-time high after posting Q3 results.
- The company reported 850K domestic streaming additions vs. 774K consensus.
- International streaming additions came in at 4.45M vs. 3.72M consensus.
- Total streamings adds were 5.30M for the quarter vs. 4.50M consensus.
- Q3 U.S. streaming contribution margin fell 140 bps Q/Q to 35.8% as some content deals closed earlier than anticipated. The international contribution margin rate was 4.7%. Q1 operating margin was 7.0% vs. 4.6% a year ago.
- Netflix on cash: "Free cash flow in Q3 totaled -$465 million vs. -$506 million last year and -$608 million in Q2’17. There is no change to our expectation for FCF of -$2.0 to -$2.5 billion for the full year 2017."
- Looking ahead, Netflix expects Q4 domestic streaming adds of 1.25M vs. 1.63M consensus and international streaming additions of 5.05M vs. 4.66M consensus.
- Source: Netflix Q3 shareholder letter
- Previously: Netflix misses by $0.03, beats on revenue (Oct. 16)
- NFLX +1.64% AH to $205.77.
- Now read: Apple (NASDAQ:AAPL), Netflix And The New World (Video) Order
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