The online movie and content distributor reached 31.09 million subscribers with 1.29 million net new additions, with some 29.93 million subscribers counted as paying subscribers. Now the company sees a total streaming subscriber base of between 32.7 and 33.5 million users in the quarter ahead, with 31.1 to 31.8 million of those being paying subscribers.
As of Monday morning this stock traded at over 200-times expected 2013 earnings and 100-times expected 2014 earnings, but this will likely ratchet those numbers lower without consideration of the pop in shares. Reed Hastings has now answered his critics and then some even if he thinks the latest surge is a euphoria.
Netflix shares closed up over 6% at $354.99 on Monday ahead of earnings, and the shares traded up another 10% or so to $390 in the after-hours trading indications after the report was released. Go ahead and mark that as an all-time high! So much are the days of calling for Reed Hastings to improve the company or else. Carl Icahn has also now made an even larger fortune off of his Netflix trade.
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