Netflix earnings are out.
It looks like everything is in line for this quarter:
- Revenue: $1.34 billion vs. $1.34 billion expected
- EPS: $1.15 vs. $1.15 expected
- Domestic streaming subscribers: 36.24 million (which is slightly ahead of expectations)
- International streaming subscribers: 13.8 million (which is ahead of expectations)
- Q3 EPS: $0.89 versus $1.01 expected
The stock is pretty much flat on the news.
Netflix's letter to shareholders is below. Some highlights from the letter as we read it:
- Netflix says that raising prices has had "minimal impact" on its membership growth rate. It expects over time the new prices are going to increase earnings.
- Orange Is The New Black was the most watched series in all territories where Netflix is offered.