After the closing bell, Netflix (NASDAQ:NFLX) announced second-quarter net income of $68.2 million, up 56.7% over the same period last year. The video-streaming and DVD-by-mail service saw its number of subscribers rise by 70% in the last year to 25.56 million. However, this afternoon’s report, which beat analysts’ expectations, came with the news that the company’s year-over-year subscriptions are likely to decrease as they institute a 60% price hike for the DVD service. NFLX shares are down 9.72% in after-hours trading.
Announcing better-than-expected second-quarter earnings today after the closing bell, Broadcom (NASDAQ:BRCM) shares have jumped 7.91% after falling during regular trading. The wireless communications service reported a 37.1% decline in income from the year earlier, though revenue rose 11.9% to $1.8 billion. However, when adjusting for settlement costs and asset impairments, the company’s 31 cents a share profit is 72 cents a share, on a non-GAAP basis.
Savvy Stock Picks: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month >>
Texas Instruments (NYSE:TXN) shares are up 0.25% after hours, despite reporting a second-quarter profit of $672 million, or 56 cents a share, compared to a profit of $769, or 62 cents a share, for the same period last year. Revenue also fell from $3.50 billion to $3.46 billion. But TI still beat analysts expectations by 2 cents a share, and beat revenue expectations by roughly $20 million, accounting for the mild after-hours boost.