Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Ahead of the Bell: Netflix
Tuesday - 10/22/2013, 10:00am EDT
NEW YORK (AP) -- Netflix shares soared 9 percent before Tuesday's opening bell after it added 1.3 million U.S. subscribers during its most recent quarter.
The online movie service has been notching new all-time highs since early August and is on pace to do that again Tuesday, if premarket gains hold.
Netflix has altered the media landscape and is reportedly in talks with cable operators to expand access to more viewers, even as more households "cut the cord," and dump cable television all together.
The $8-per-month membership fee is tailor-made for uncertain economic times and the company has been aggressive in expanding what it offers to customers, including original programming like "House of Cards," a political thriller starring Kevin Spacey, Kate Mara and robin Wright.
It seems the only thing dividing industry watchers about prospects for the company is the meteoric rise of its share price.
The stock has more than quadrupled this year as original programming and expanded service draws new adherents. The stock price in August surpassed heights reached two years ago, before a poorly handled change in service sent shares plunging to a 20-month low.
Tony Wible of Janney Capital Markets backed his "Buy" rating, pointing to the steady growth of subscribers.
But Jefferies analyst Brian Fitzgerald stuck by his "Underperform" rating, saying that it's tough to justify the company's current stock price given that its content costs are rising.
The company's profit of 52 cents per share beat Wall Street predictions of 48 cents, while revenue rose 22 percent to match predictions of $1.1 billion. Netflix also said it expects to add another 2.5 million to 4.1 million subscribers worldwide in the current quarter ending in December.
In premarket trading, Netflix shares jumped $31.31 to $386.30.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.