Netflix Inc. Q3 Profit Falls 50%

(RTTNews) - Netflix Inc. (NFLX) released earnings for third quarter that dropped from last year.

The company said its profit fell to $29.43 million, or $0.07 per share. This was down from $59.30 million, or $0.14 per share, in last year's third quarter.

Analysts had expected the company to earn $0.08 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 23.4% to $1.74 billion. This was up from $1.41 billion last year.

Netflix Inc. earnings at a glance:

-Earnings (Q3): $29.43 Mln. vs. $59.30 Mln. last year. -Earnings Decline (Y-o-Y): -50.4% -EPS (Q3): $0.07 vs. $0.14 last year. -EPS Decline (Y-o-Y): -50.0% -Analysts Estimate: $0.08 -Revenue (Q3): $1.74 Bln vs. $1.41 Bln last year. -Revenue Change (Y-o-Y): 23.4%