Netflix Stock Hits Record Highs After Crushing Earnings Expectations

Shares of Netflix (NASDAQ: NFLX) soared to fresh all-time highs on Friday, boosted by a strong earnings report. The media streaming pioneer's stock had gained by 10.7% by 11:10 a.m. ET, adding up to a gain of 120% in 52 weeks.Netflix's top-line revenue rose 15% year over year in the third quarter, landing at $9.83 billion. That's slightly ahead of a 14.4% increase in global memberships over the same period, including a net increase of 5.1 million accounts in the third quarter. Earnings stopped at $5.40 per diluted share, 45% above the year-ago reading.Your average analyst would have settled for earnings near $5.16 per share on sales in the neighborhood of $9.78 billion. Netflix also exceeded management's guidance for all six of the financial targets given in the second-quarter report, and guidance figures for the next quarter came in above current Street expectations.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool