Netflix beat expectations with Q3 revenue of $1.11 billion — up from the $905 million it reported in the same quarter a year ago. At first, investors seemed energized — they sent the stock soaring to a daily high of $389.16 on Tuesday. It was another boost for a company that has already been one of the year’s top performers. Going into Tuesday afternoon, though, the stock cooled, dropping 9 percent to close at 322.52 after Bank of America analysts said the company’s valuation was “difficult to justify.”
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Netflix Takes Stomach-Churning Dive
Posted by: Rachelle Dragani October 22, 2013 03:16 PMNetflix beat expectations with Q3 revenue of $1.11 billion — up from the $905 million it reported in the same quarter a year ago. At first, investors seemed energized — they sent the stock soaring to a daily high of $389.16 on Tuesday. It was another boost for a company that has already been one of the year’s top performers. Going into Tuesday afternoon, though, the stock cooled, dropping 9 percent to close at 322.52 after Bank of America analysts said the company’s valuation was “difficult to justify.”