Netflix (NFLX) reported mixed first-quarter results on Tuesday, missing Wall Street subscriber estimates while beating analyst expectations on earnings per share.
The stock, which initially fell as much as 12% after the release, saw shares pare losses as investors digested the report — the first since co-CEO and co-founder Reed Hastings stepped down from his leading role at the company.
Here are Netflix’s first-quarter results compared to Wall Street’s consensus estimates, as compiled by Bloomberg:
Revenue: $8.16 billion versus $8.18 billion expected
Earnings per share (EPS): $2.88 versus $2.86 expected
Subscribers: 1.75 million versus 2.3 million net additions expected
Earnings and revenue projections disappointed after Netflix revealed it anticipates earning $2.84 per share on $8.24 billion in the second quarter, below Wall Street forecasts for earnings of $3.05 per share on $8.5 billion in revenue.
The results come as investors eagerly await updates regarding the company’s
This article was written by and originally published on finance.yahoo.com