Reuters: Global Markets: Netflix posts first-quarter loss

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Netflix posts first-quarter loss Apr 23rd 2012, 21:27 Tweet Share this Email Print Related News Europe, Wal-Mart knock Wall Street lower 5:16pm EDT Tricky time for Netflix as loss expected Fri, Apr 20 2012 Chipmaker AMD's results point to better PC market Thu, Apr 19 2012 Bank of America trading rebound aids recovery Thu, Apr 19 2012 Travelers smashes estimates, insurance rates rising Thu, Apr 19 2012 Analysis & Opinion Do Jubilee shares make any sense? Wall Street hangs in limbo despite market rebound Related Topics Hot Stocks » Asian Markets » A sign is shown at the headquarters of Netflix in Los Gatos, California September 20, 2011. Credit: Reuters/Robert Galbraith Mon Apr 23, 2012 5:27pm EDT (Reuters) - Video rental company Netflix Inc reported a first-quarter loss that was not as steep as Wall Street feared but shares fell after disappointing guidance for subscriber additions next quarter. Shares dropped 13.6 percent in after-hour trading from their earlier close at $101.84. Investors are concerned about the company's guidance for subscriber additions in the second quarter, said Wedbush Securities analyst Michael Pachter. Netflix said its net domestic streaming additions in the second quarter would be below 2010's second quarter, though it expects the total for the year to be "about the same as in 2010." "They are giving a signal to the Street their growth story is over," said Pachter, who rates Netflix a "sell." Netflix posted first-quarter revenue of $870 million, up 21 percent from a year earlier. Net income fell, and the company reported an earnings loss of 8 cents per share. Analysts had expected a loss of 27 cents per share, according to Thomson Reuters I/B/E/S. (Reporting By Lisa Richwine; Editing by Phil Berlowitz) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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