Netflix and Symantec Shares Rise After Earnings Releases
Netflix Inc. (NYSE:NFLX) in the fourth quarter as profit dropped from a year earlier. Net income for the music and video store fell to $40.7 million (73 cents per share) vs. $47.1 million (87 cents per share) a year earlier. This is a decline of 13.5% from the year earlier quarter. Revenue rose 46.9% to $875.6 million from the year earlier quarter. NFLX beat the mean analyst estimate of 55 cents per share. It beat the average revenue estimate of $857.6 million.
Competitors to Watch: Blockbuster Inc. (BLOAQ), Coinstar, Inc. (NASDAQ:CSTR), DISH Network Corp. (NASDAQ:DISH), Comcast Corporation (NASDAQ:CMCSA), Time Warner Inc. (NYSE:TWX), The Walt Disney Company (NYSE:DIS), Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Google Inc. (NASDAQ:GOOG), and Time Warner Cable Inc. (NYSE:TWC).
Symantec Corporation (NASDAQ:SYMC) reported net income above Wall Street’s expectations for the third quarter. Net income for Symantec Corporation rose to $241 million (32 cents per share) vs. $132 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 82.6% from the year earlier quarter. Revenue rose 7% to $1.72 billion from the year earlier quarter. SYMC reported adjusted net income of 42 cents per share. By that measure, the company beat the mean estimate of 37 cents per share. It beat the average revenue estimate of $1.71 billion.
“Through consistent execution of our strategy, we met or exceeded revenue and earnings for the sixth consecutive quarter,” said Enrique Salem, president and chief executive officer, Symantec. “With unprecedented information growth and the increasingly toxic threat landscape, customers understand the value of our portfolio and we continue to see good demand for our products and services across all geographies.”
Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Websense Inc. (NASDAQ:WBSN), Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), VMware, Inc. (NYSE:VMW), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Novell, Inc. (NASDAQ:NOVL), Guidance Software, Inc. (NASDAQ:GUID), and Intel Corporation (NASDAQ:INTC).
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