Netflix Revenue Disappoints, Stock Falls 9% (NFLX)

Netflix, Inc. NFLX released financial results on Wednesday after the market closed that beat Wall Street earnings estimates but missed revenue expectations. Netflix, Inc. (NFLX) reported that its 2nd quarter net income rose 35% to $43.5 million, or 80 cents per share, from a year earlier. Although revenue climbed 27% to $520 million, it wasn't enough to meet analyst estimates. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 71 cents per share, on revenue of $524.44 million. Shares of NFLX ended Wednesday trading down 0.61% at $119.65 per share, then plummeted nearly 9% to $113.50 during after hours trading. Analysts covering the company's stock have a consensus price target of $88.04 per share. Read more from Benzinga's Company news.