Netflix stock declines due to reporting

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Source: Dukascopy Bank SA


The stock price of Netflix is set to start Friday's US trading with a gap down of 6.34% or a price decline of $38.71. In general, the drop has occurred due to the company announcing that it will no longer provide subscriber statistics.

Market analyst have been using the subscriber numbers to model future earnings projections. The cancelling of the release of these numbers signals that the company could be hiding a decline of its client base.

Meanwhile, the company has reported that it has surpassed its earnings per share expectations by 16.70% or $0.756. Quarterly earnings per share were $5.28 instead of the expected $4.524. The total Revenues of the firm almost hit the forecast. The market estimate was for total revenue to reach $9.277 billion. Actual revenues reached $9.402 billion.

The increased numbers might indicate that Netflix has figured out how to continue to make more money, despite not attracting more clients.
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