Netflix Reports Worse Than Expected Q1 Results, Guides Lower
<p><a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix (NASDAQ:NFLX)</a> reported its Q1 earnings yesterday, with EPS coming in at $2.88, better than the Street estimate of $2.86. However, the revenue of $8.16 billion missed the Street estimate of $8.17 billion. Global streaming paid net additions of 1.75 million also came in worse than the Street estimate of 2.41 million.</p>
<p>Shares plunged around 11% after-hours yesterday but almost entirely recovered today, currently being down 1% pre-market.</p>
<p>The company provided its outlook for Q2, expecting revenue of $8.24 billion, missing the Street estimate of $8.47 billion.</p>
<p>Following the results, several brokerages lowered their price targets on the stock, including Jefferies with a new price target of $405.00 (from $415.00) and maintained Buy rating. Meanwhile, JPMorgan lowered its price target to $380.00 from $390.00 while reiterating an Overweight rating.</p>

NASDAQ:NFLX