Tomahawk, WI 7/24/12 (StreetBeat) -- Netflix (Nasdaq: NFLX) beat analysts' EPS estimates by more than double but lowered their guidance. This was blood in the water for sellers driving share price down more than 15 percent in aftermarket trading. As I write, shares of Netflix were at $68.80 per share after closing the day up slightly at $80.39 per share.For the second-quarter, Netflix reported earnings of $0.11 a share on revenue of $889.2 million. Estimates were for earnings of $0.05 a share on revenue of $888.9 million.
A year ago, the company earned $1.11 a share on revenue of $788.6 million.
A year ago, the company earned $1.11 a share on revenue of $788.6 million.
Netflix projected a weak third-quarter forecast, with results in a range between a loss of ($0.10) a share to a profit of $0.14 a share. Estimates are for earnings of $0.11 a share.
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