- Netflix is spiking. Results not yet reported.
- Now reported:
- soaring, better than expected subscriber additions;
- misses EPS; 15 cents vs 16 cents
- revenues beat: $2.79 billion vs $2.76 billion estimated
- guidance stronger than expected
- $2.96 billion guidance vs expecting %2.88 billion
- tipping point: greater than 50% now international subscribers
- CNBC: a blowout quarter
- cord-cutting continues; a DVD-to-streaming moment; analyst thinks this is an inflection point; "when you have this big of a blowout, it's a big, big deal"
- huge blow to Apple; Apple too stingy; won't spend money on video production; did Apple miss "the next big thing"? could Apple use "Apple TV" to build a moat around the "TV experience?
- after hours, shares are up about 7%
- this is so much fun; back on March 21, 2013, I started a new thread called "the next big thing"; I started the thread because of a discussion I had with my son-in-law at the time; he was betting on Vudu, Hulu. I was betting on Netflix.
- had these numbers been announced before the market closed, the market would have hit new highs across all three major indices
- a page from Amazon's playbook? shares soar as subscribers, debt pile up
By the way, on the "next big thing" thread, I mentioned "grocery products" on February 9, 2017, just months before Amazon got into grocery. My post on grocery back in February:
Grocery products: upstream (production); midstream (distribution centers); downstream (retail stores). To cut costs, Kellogg will eliminate midstream (distribution centers), instead delivering directly to retailers' warehouses. I assume other producers/wholesales will follow suit. February 9, 2017.
This only caught my attention because I thought China's 2Q17 grew faster than forecast. The New York Times story and lede:
Reuters, on the other hand did provide the whole story, but one has to admit that the headline was a bit hyped. There's not a lot of difference between 6.9% and 6.8% when it comes to forecast.