Netflix Earnings: NFLX Stock Drops on Q4 Earnings Beat, Revenue Miss

Its domestic subscriber additions beat expectations

Netflix earnings (NASDAQ:NFLX) came out late on Thursday and the company unveiled mixed results that included an earnings beat and a revenue miss, sending NFLX stock tumbling after the bell.

Netflix Earnings
Source: Netflix

The online video streaming service and app said that for its fourth quarter of its fiscal 2018, it brought in earnings of 30 cents per share on an adjusted basis. The figure was stronger than the 24 cents per share that analysts were calling for, according to data compiled by Refinitiv.

Netflix added that its earnings for the period were 27% lower than what it amassed during its fourth quarter of its fiscal 2017. The company added that its revenue for the quarter came in at $4.19 billion, which marked a 28% gain year-over-year, but it missed the Wall Street consensus estimate of $4.21 billion, according to data compiled by Refinitiv.

The company added that its domestic subscriber additions for its last quarter of the fiscal year amounted to 1.53 million, ahead of the 1.5 million that analysts forecasted, according to FactSet. On an international level, Netflix brought in 7.31 million new subscribers to its service, handily topping the 6.1 million expected additions, according to a survey compiled by FactSet.

NFLX stock was down more than 2.9% after the bell on Thursday following the news. Shares had been gaining a touch over 0.5% during regular trading hours in anticipation of the video streaming service’s results.

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