The Los Gatos, California- based Netflix, Inc (NASDAQ:NFLX) moved down to the lowest level in 9 months after raising concerns regarding whether the corporation can meet its user- growth targets current year.
Netflix, the world’s biggest video-subscription service, stock plunged 25% to settle in New York at $60.28 and marked the major one-day decline since Oct 25, after announcing second-quarter earnings on Tuesday. Shares of the company were the worst performer in the Standard & Poor’s 500 Index and plunged 13% current year.
CEO Reed Hastings stated in his quarterly letter to investors on Tuesday that the summer Olympics were likely to obstruct efforts to sign up new users.
Sales for the three months period surged 13% to $889.2 million from previous year, surpassing the $888.9 million median forecasts.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. DISH Network Corp. (NASDAQ:DISH) moved up +1.96% to end at $29.16, Coinstar, Inc. (NASDAQ:CSTR) decreased -2.28% to settle at $59.27 while Time Warner Inc. (NYSE:TWX) jumped +1.77% to finish on Wednesday at $38.55.
Netflix, Inc. (NASDAQ:NFLX) last session volume of 24.78 million shares was surprisingly higher than its average volume of 4.56 million shares. The stock after opening at $64.21 hit high price of $66.80 and then closed at $60.28 by scoring -25.02%.
The liquidity measure in recent quarter results of the company was recorded 1.42 as current ratio and on the other side the debt to equity ratio was -0.60 and long-term debt to equity ratio also remained -0.60. The Company had total cash at hand $813.34 million and a book value per share as $11.95 in the most recent quarter.
The stock price volatility was 5.77% for a week and 4.94% for a month as well as price volatility’s Average True Range for 14 days was 4.68 and its beta remained 0.72.
NFLX generated revenue of 3.36 billion in the following twelve months and earned $161.31 million. The Company showed a positive 4.81% in the net profit margin and as well as in its operating margin which remained 8.10%. Company’s annual sales growth for the past five years was +26.31%.
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