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BUZZ-Netflix subscriber growth beats estimates, stock hits record
October 16, 2017 / 8:42 PM / 3 months ago

BUZZ-Netflix subscriber growth beats estimates, stock hits record

** Shares of Netflix up 1.7 pct and hitting a record high in extended trade of $210.79 after the video-streaming pioneer added more subscribers than analysts expected in fiscal Q3

** NFLX added 4.45 mln subscribers in its international markets in the qtr ended Sept. 30, vs 3.69 mln expected on avg by analysts, according to data and analytics firm FactSet

** Co added 850,000 subscribers in the United States, compared with the average analyst estimate of 810,000

** Subscriber growth mostly driven by NFLX’s original shows such as the latest season of “Narcos”

** NFLX has surged over 63 pct YTD, recently trading at 101x expected earnings, according to Thomson Reuters data

** NFLX rev rose about 30 percent to $2.99 bln in the Q3, vs consensus expectation of $2.97 bln

** Traders added $316 mln in short bets against NFLX in past week, bringing total short interest to $5.66 bln, according to S3 Partners, a financial analytics firm

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