Netflix Shares Trade 7% Above 52-Week Low Ahead of Q3 Results

Netflix shares traded about 7% above their 52-week low Monday, Oct. 19, ahead of third-quarter results that will show whether the company met its revenue and margin targets. Shares were at $69.64 at 1:53 p.m. ET (17:53 UTC), down 1.3% on the day. The intraday quote was $4.56 above the $65.08 low reached July 17. Netflix’s July forecast projected third-quarter revenue of $12.86 billion, up 11.7% from a year earlier, and operating income of $4.268 billion. It also called for a 33.2% operating margin, $3.452 billion in net income and diluted earnings of $0.82 per share. That projected revenue growth rate was below the 13.4% increase Netflix posted in the second quarter, when revenue reached $12.56 billion and diluted earnings were $0.80 per share.

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