3 Media Stocks in Focus: Netflix Shares Cool Off, Disney Well-Positioned for Holidays, Sirius Is a Buy
Netflix Inc. (NASDAQ:NFLX): Shares are cooling after an impressive stock surge in the wake of Netflix’s earnings on Monday night. U.S. streaming margin was 23.7 percent, up 120 bps over the last quarter and up 450 bps over last year. The unit had a contribution profit of $166 million. Earnings per share of 52 cents beat by 3 cents as revenue of $1.1 billion fell in line. Netflix added 1.29 million subscribers domestically during the third quarter, compared to the 630,000 that it logged for the second quarter. Total U.S. subscribers at the end of the quarter totaled 31.09 million against the 30 million expected.