Netflix (NFLX) Bludgeoned After Hours

Submitted by Mark Hanna

Courtesy of MarketMontage. View original post here.

Last week there was a circus in after hours for F5 Networks (FFIV) – originally it was down strongly and then after the conference call was up sharply.  If Netflix (NFLX) is going to enjoy such a fate it better have the conference call of the century.  The widely followed stock is taking a big hit in after hours.   Looks like revenue came in line and EPS was a beat at $-0.08 vs $-0.27 expectation.  Guidance seems a tad light at a range of $873M-$895M vs $893M but this seems like a brutal reaction if that is the only issue.  Looks like the loss of DVD subscribers is perhaps going faster than investors would like.  Need to do more sniffing around.

EDIT 4:20 PM – looks like Q2 subscribe add guidance is the culprit:  Sees Q2 Paid Subscriptions 22.3-22.9M versus Street estimates of 23M.

PR here
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