Shares of Netflix Inc. were down -115.59 or -25.77 percent to $333.00 per share in Thursday’s premarket, after the company announced earnings yesterday following the market close. While earnings were better than expected, revenue and new subscriptions failed to meet analyst forecasts. Netflix stock closed at $448.59 per share, off -0.53 or -0.12 percent in Wednesday’s regular trading session.
Los Gatos, California based Netflix Inc. is an Internet subscription service offering subscribers unlimited streaming television shows and movies that can be watched on television sets, computers or on mobile devices. The company currently operates in North and South America, the United Kingdom, the Caribbean, Scandinavia, the Netherlands, and Iceland. With this week’s expansion Netflix will have operations in 47 countries including six new markets in Western Europe.
Netflix reported earnings of $0.96 per share on $1.22 billion in revenue in the company’s fiscal third quarter. The ana