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These Stocks Were the Top Tech Movers Last Week

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Part 4
These Stocks Were the Top Tech Movers Last Week PART 4 OF 4

What Affected Netflix Stock Last Week?

Netflix rose on impressive 2Q17 results

Online streaming giant Netflix (NFLX) reported its 2Q17 earnings on July 17, 2017. The stock rose 17% in the week ended July 21, 2017, to close at $188.54. Netflix’s revenue in 2Q17 rose 32.3% YoY (year-over-year) to $2.8 billion with an operating margin of 4.6% and an operating income of $128 million. Netflix aims to achieve an operating margin of 7% in fiscal 2017. The company’s net income in 2Q17 was $66 million with non-GAAP (generally accepted accounting principles) EPS (earnings per share) of $0.15.

Netflix has generated returns of over 100% in the trailing-12-month period and 33% in 2017 after rising 8% in 2016.

What Affected Netflix Stock Last Week?

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Netflix now has over 100 million streaming members

At the end of 2Q17, Netflix had 103.9 million streaming memberships, and the firm exceeded its forecast by 2 million members. Netflix added 5.2 million members in 2Q17. Its streaming revenue rose 36% YoY to $2.7 billion in 2Q17. In the United States (SPY), streaming revenue for 2Q17 was up 25% YoY at $1.5 billion with streaming members totaling 51.9 million. Netflix added 1.1 million members in the United States during 2Q17, its highest since 2Q11. Netflix expects to add 0.75 million members in the US during 3Q17.

During its 2Q17 earnings call, Netflix acknowledged that while Alphabet’s (GOOG) (GOOGL) YouTube is clocking 1 billion hours viewed each day, Netflix is clocking a billion hours of viewership each week.

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