Breaking Down Netflix's 1st-Qtr Earnings

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April 21 (Bloomberg) -- Bloomberg's Jon Erlichman breaks down Netflix's first-quarter earnings on Bloomberg Television's "Street Smart." (Source: Bloomberg)

They came out with profit that pleased wall street.

$.86 per share.

They beat by him nickel.

Revenue -- they beat by him nickel.

-- by a nickel.

$1.12 is the estimate for the second quarter versus one dollar.

They are talking about, it looks like 1.24 billion in revenue from their business at home.

$835 million coming from abroad.

Wall street was looking for 1.3 billion total, so that is a huge revenue forecast upside story.

A lot of it has to do with international.

This quarter and next quarter, the story of the number of people adding internationally higher than wall street thought.

Up three percent in after-hours.

This is a stock that has gotten killed, 25% in the last month and a half.

It does not seem like this will be enough to really shift that.

Look, they have more than 48 million subscribers around the world.

The ceo of the company said last year, if you are buying our stock, chillax.

We do not know what your expectations are.

Our expectations are to build the business.

We will play with the pricing side to add some revenue to the coffers.

You are looking at a continued growth story for this company.

It is gravy when you bring the subscribers in.

I alluded to this earlier

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