3 Big Surprises From Netflix Inc.'s Quarterly Report
Even at a market capitalization of over $79 billion, Netflix (NASDAQ: NFLX) can still shock Wall Street. The streaming video giant this week announced second-quarter numbers that were right in line with revenue and profit expectations. However, subscriber growth was way ahead of management's plan.
Executives tried to stay subdued while describing the results in a letter to shareholders. "It was a good quarter," CEO Reed Hastings said in his summary.
Other words sprinkled through the letter hinted at their growing optimism, though. Management talked about Netflix's "amazing content" portfolio and the "incredible" demand for streaming video. As for the power of the internet to boost the industry, Hastings said, "wow."
Source: Fool.com
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