Netflix Gets Stung (NFLX)

Posted in pre-market 
October 6th, 2008

Netflix Inc. (NASDAQ: NFLX) is feeling some pain early this morning, although trading volume is more indicative of confusion rather than conviction for a stock that trades almost 1.5 million shares per day.  The online DVD rental service via mail sees Q3 revenues of $343 to $348 million and Q4 revenues of $353 to $359 million.  First Call had estimates of $345.8 million for Q3 and $364.8 million in Q4.  On earnings its sees $0.26 to $0.34 EPS in Q3 and $0.30 to $0.38 EPS in Q4.  Q3 estimates are $0.31 and Q4 estimates are $0.32 EPS. It also expects Q4 subscribers at 8.95 to 9.25 million by the end of the quarter.

We have only seen 3,600 shares trade hands this morning and at 8:49 AM EST we have seen the last trade down almost 10% at $26.23.  Its 52-week trading range is $20.35 to $40.90.

Jon C. Ogg
October 6, 2008

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