Netflix Stock Price Soars Today and We're Still Buying

The Netflix stock price is soaring more than 18% today after a strong Q3 earnings report yesterday. We were bullish ahead of the Netflix earnings report and still think NFLX stock is a long-term buy even at today's high prices.

In early morning trading today (Tuesday), the Netflix Inc. (Nasdaq: NFLX) stock price was up 18.6% at $118.36 on very heavy volume.

Before we get into our Netflix stock price outlook, here's what you need to know about the Netflix earnings report...

Netflix Stock Price Skyrockets on Earnings

• After Monday's close, NFLX posted Q3 earnings per share (EPS) of $0.12. That was double Wall Street estimates of $0.06 and ahead of Netflix's forecast of $0.05.
• Revenue for the quarter came in at $2.29 billion. That was up 36% year over year. Consensus estimates were for revenue of $2.28 billion.
• U.S. subscriber growth for the quarter was 370,000. Analysts had expected 304,000, and Netflix had guidance of 300,000.

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• International subscriber growth came in at 3.2 million, blowing past Wall Street forecasts of 2 million.
• For Q4, Netflix expects domestic subscriber growth of 1.45 million versus Wall Street's forecasts of 1 million.
• International subscriber growth in Q4 is projected at 3.75 million compared to analysts' forecast of 3.1 million.

Subscriber growth and guidance are always the key metrics in every Netflix earnings report. And those numbers have the biggest impact on the Netflix stock price.

Many investors had been worrying that Netflix was reaching a saturation point in the United States. But Netflix showed it has plenty of room to grow both stateside and abroad.

And fueling that growth is Netflix's original content...

Why We're Bullish on the Netflix Stock Price