Netflix plans $8bn content spend in 2018

Peter Castro
October 18, 2017

The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.97 billion.

After some strong gains in the AH trading session that put Netflix shares above their all-time high, they are now down slightly 0.20% at $202.30 heading into the market open. 2,000 Netflix, Inc. (NASDAQ:NFLX) shares with value of $326,940 were sold by BARTON RICHARD N. 6,167 shares valued at $969,144 were sold by Peters Gregory K on Monday, May 1.

Rosenblatt Securities reiterated their buy rating on shares of Netflix, Inc. KILGORE LESLIE J also sold $174,636 worth of Netflix, Inc.

Netflix, Inc., an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. In the most recent financial results released by Netflix, Inc., for the quarter ending on 2017-09-30, the company posted EPS of 0.29. That decision was not tied to Netflix's recent price increases in several markets, including in the US, according to CFO David Wells.

It said investment in originals accounted for more than 25% of its total profit-and-loss content budget in 2017 and will grow further, with US$17bn committed over the next "several years" and a spend of US$7bn to US$8bn on content planned for 2018.

Tesla Motors fires hundreds of workers after performance reviews
That has Wall Street a bit anxious about the company's Model 3 production ramp, which has already encountered issues. Tesla fired hundreds of employees as the company struggled with production issues on the Model 3.

Following on from the second-quarter partnership with SFR/Altice in France, it also announced a new partnership with T-Mobile US which includes the bundling of Netflix into its ONE family plan.

The video streaming company's shares slipped a bit to $200 after touching a record high of $204.38, spurred by a series of price target increases by brokerages. The company has a market capitalization of $87.51 billion, a P/E ratio of 246.57 and a beta of 1.09. The Company operates through three segments: Domestic streaming, global streaming and Domestic DVD. Netflix, Inc. (NDAQ:NFLX) has risen 75.34% since October 17, 2016 and is uptrending. Novartis Ag had 31 analyst reports since July 28, 2015 according to SRatingsIntel.

USA stocks hit new highs at the close and after the bell, Netflix Inc (NASDAQ:NFLX), the video streamer, was in the spotlight as expected. The rating was downgraded by Macquarie Research on Tuesday, September 13 to "Underperform". The firm earned "Neutral" rating on Wednesday, April 19 by JP Morgan. It has outperformed by 58.64% the S&P500.

In the coming years, things will only get tougher for the streaming service.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Other reports by PlayStation Move reviews

Discuss This Article

FOLLOW OUR NEWSPAPER