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Company Update: Netflix Inc (NASDAQ:NFLX) – Netflix’ Aust launch hard to match

[AAP] – Online TV network Netflix is finding last year’s successful launch in Australia and New Zealand hard to match as it attempts to aggressively expand globally. The California-based company on Monday (US time) said its first quarter operating income was $US49 million ($A63.27 million), down from $US97 million the same period a year ago, as it continues to invest in international markets. Netflix is forecasting fewer international subscriber net additions in the second quarter compared to last year’s second quarter “due to a tough comparison against the Australia-New Zealand launch”. Read more on this. Netflix, Inc. (NFLX) , valued at $46.40B, started the session at $109.89. Today, shares have traded between $106.02 and $110.70 per share with a trailing 52-week range being $78.89 to $133.27. NFLX shares are currently priced at 413.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.19x earnings multiple for the same period. According to a consensus of 35 analysts, the earnings estimate of $0.03 per share would be $0.02 worse than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $0.27, which would be a $0.01 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.97 Billion. If reported, that would be a 25.48% increase over the year-ago quarter. Recently, Atlantic Equities upgraded NFLX from Neutral to Overweight (Apr 1, 2016). Previously, FBR Capital downgraded NFLX from Outperform to Mkt Perform. The average price target for NFLX shares is $123.66, which is 12.53% above where the stock opened this morning. See more in (NASDAQ:NFLX) Similar Articles: Company Update: Netflix Inc (NASDAQ:NFLX) – Netflix Didn’t Violate Net Neutrality Rules, Says FCC (NFLX, VZ) Stock Update: Netflix Inc (NASDAQ:NFLX) – Netflix Caps Video Streams on AT&T, Verizon Customers (NFLX, T) Market Update: Netflix Inc (NASDAQ:NFLX) – [$$] Smartphone Stars: Netflix, Facebook and Alphabet
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