Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Check out the companies making headlines after the bell: Shares of Netflix surged more than 9% during extended trading after the company had a third-quarter earnings beat, though fell just shy of revenue estimates. The streaming giant posted earnings of $1.47 per share, while Wall Street expected an EPS of $1.04. Revenue came in at $5.24 billion, compared to the $5.25 billion analysts expected, according to Refinitiv consensus estimates. Netflix also reported fourth-quarter guidance below estimates on earnings per share, revenue, and paid net subscriber additions. The company expects earnings of 51 cents per share on revenue of $5.4 billion next quarter and projects 7.6 million global net subscriber additions. For the same quarter last year, Netflix added 8.8 million subscribers. “Our long term outlook on our business is unchanged,” the company said in its shareholder letter. IBM shares fell more than 5% after the company reported mixed third-quarter earnings. The IT giant saw earnings of $2.68 per share, slightly higher than the $2.67 per share investors expected. Revenue came in at $18.03 billion, falling short of the $18.22 billion expected, according to Refinitiv. Shares of… Read full this story
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