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- Company News: Netflix (NFLX) Q1 earnings miss analysts’ forecast; Q1 net adds significantly exceed its pre-pandemic guidance
Company News: Netflix (NFLX) Q1 earnings miss analysts’ forecast; Q1 net adds significantly exceed its pre-pandemic guidance
Netflix (NFLX) reported Q1 FY 2020 earnings of $1.57 per share (versus $0.63 per share in Q1 FY 2019), missing analysts' consensus estimate of $1.64 per share.
The company's quarterly revenues amounted to $5.768 bln (+27.6% y/y), generally in line with analysts' consensus estimate of $5.746 bln.
Netflix reported Q1 FY 2020 net adds of 15.77 mln versus its January guidance (pre-pandemic) of 7.00 mln.
The company also issued upside guidance for Q2 FY 2020, projecting EPS of $1.81 versus analysts' consensus estimate of $1.54 and revenues of $6.048 bln versus analysts' consensus estimate of $5.95 bln. In addition, it guided Q2 FY 2020 global streaming net adds of 7.5 mln.
NFLX fell to $431.97 (-0.43%) in pre-market trading.
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