Netflix has lots of original movies planned for 2018


As part of its third-quarter earnings report, Netflix released a letter to its shareholders announcing its intention to invest $7-$8 billion on content in 2018. In midmorning action it was down 1%, near 200.60.

Net income for the third quarter sits at $130 million, up from $52 million in the same quarter past year.

Netflix ended the quarter with 109.3 million subscribers, a gain of 5.3 million over its second-quarter subscriber levels, and almost a million more than the 4.4 million new subscribers the company had forecast. This must be what happens when you report a quarterly profit of 29 cents a share on $2.99 billion in revenue, which was up from earnings of 12 cents a share, on revenue of $2.3 billion in the same period a year ago.

Several other research analysts have also recently commented on NFLX. Analysts were modeling for 33 cents and $3.15 billion. Six equity analysts rating the company a strong buy, seventeen equity analysts rating the company a buy, fifteen brokerages rating the company a hold, three brokerages rating the company a underperform, and finally two brokerages rating the company a sell with a 12-month price target of $117.22. It upped its target to 270 from 200.

Pregnant Kate, the Duchess of Cambridge makes surprise appearance at Paddington station
One of the children managed to get Prince William to reveal that one of Prince George's favourite movies is the Lion King. Her husband said the duchess was "feeling much better" while a royal aide said she is "better, but still suffering".

"You can see that we've done very well in worldwide without it", Hastings said.

IBD'S TAKE:Netflix stock surged above its buy range in Monday trading after the company's shares hit a buy point October 5, coming out of a cup with handle.

"Netflix offers consumers an increasingly compelling entertainment experience on virtually any device, without commercials at a relatively low cost", Wlodarczak said.

Netflix is the world's leading Internet television network with millions of subscribers in almost 50 countries who have access to an ever-expanding library of TV shows and movies, including original programming, documentaries and feature films. Also, insider Jonathan Friedland sold 2,496 shares of the company's stock in a transaction that occurred on Wednesday, July 19th.

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Netflix's stock rise has left bears scratching their heads. Netflix had 189 analyst reports since August 4, 2015 according to SRatingsIntel.

Netflix added more subscribers than expected in the third quarter as viewers craved its highly regarded original content and results did not show any new signs of stress, analysts said.

Netflix dropped a cool $6 billion on content in 2017 alone and is planning to shell out a whopping $8 billion next year, $1 billion more than previously planned.

Pachter reiterated his underperform rating on Netflix, but upped his price target to 93 from 88. "While we have multiyear deals in place preventing any sudden reduction in content licensing, the long-term trends are clear". The numbers reinforced its dominance in the pay video streaming space with RBC Capital Markets analyst Mark Mahaney saying it has eight times more subscriptions than the closest competitor. Rivals include ( AMZN ), Hulu and CBS ( CBS ) now and soon Apple (AAPL) and Disney will join the fray.

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Sarandos said with the release of "Bright" - a "big-budget, event movie" - "I think people will start seeing the potential for this original movie initiative, that it could be done on the enormous scale we have on the television side".

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