Netflix released its Q2 2016 Financial Results on July 17. It reported a growth of 1.7m in memberships in Q2 and is planning for higher growth and improvement in every aspect of its business.
Revenues grew by $153m; contribution profit improving by $36m; and EPS rising from $0.06 in Q1 to $0.09 in Q2.
The California based company is the world’s top Internet TV network with more than 83 million subscribers in more than 190 nations enjoying over 125m hours of movies and TV shows daily, including feature films, documentaries and original series.
On July 18 Netflix and CBS Studios International announced a historic global licensing partnership for simultaneous broadcasting of the new iconic “Star Trek” TV series.
Netflix Stock Price and Future Outlook.
Netflix (NASDAQ: NFLX) stocks exchanged at $92.04 at the close of day on July 27. The share price has been rising the past week. It has a 52-week high of $133.27 (that was in December 2015) and had a low of $79.95 in February this year.
Netflix Stock Movements
Netflix stocks have been improving generally since mid 2012, with its peak in December last year.
Stock analysts advice that there is a short opportunity to buy the Netflix stocks now, targeting a price of $93.55 in a few days ahead.
Who are Netflix’s Competitors?
Netflix is facing growing rivalry as old and new competitors step up their game. Though it remains to be king of content, U.S. downloads of Showtime, Hulu, Amazon Video, HBO Now and Popcorntime surpassed it in April.
Amazon, a major competitor, launched a new monthly subscription plan, named Prime Video and priced it at $8.99 per month to compete with Netflix’s and Hulu’s monthly plans, both of which are currently priced at $7.99 per month.
Google, Facebook and Apple are all set to enter and take a share in the online streaming industry.