Netflix Inc (NFLX) CEO Hastings On Whether ‘The Euphoria Is Gone’

Netflix Inc (NFLX) CEO Hastings On Whether ‘The Euphoria Is Gone’

Below are some remarks from Reed Hastings on the Netflix, Inc. (NASDAQ:NFLX) conference call, where he mostly fielded questions from analysts. Shares of Netflix are up 17% in after hours trading after the company reported strong Q4 earnings.

It’s Reed here.

The seasonal pattern is the same as it typically is where at least it is the same seasonal pattern so far in the quarter.
Which is it’s relatively frontloaded compared to other quarters.

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And then your second question was on conviction of net adds for all of 2014. And we haven’t given guidance for the year.
We try to avoid that.
So I’ll just say it’s a great start for the year and that that portends very well for us and we’re excited about what’s unfolding.


When you broke your last quarterly letter, Reed, you talked about the stock price volatility you referenced it actually broke it out in the letter and you said some of it feels like the euphoria back from 2003. Your stock I think that evening was at $354 a share.

That Section was removed from the quarterly letter this quarter.
I think your stock right now is trading at about $393. Curious, is the euphoria now gone given your business conditions or do you still feel like there’s euphoria built into the stock?

Hastings of Netflix, Inc. (NASDAQ:NFLX)

Well, at least I was clearly right about volatility, rich. We’ve been all over the map here. And I think we’ll just stay focused on doing the best we can on improving the service, growing the membership, and I don’t know that I have any differential insight into the right price of the stock.


In your long-term view you asked about you talked about after placing channels.
Screens proliferating. Just wanted to ask you more specifically on the last point here, we frequently asked about mobile, sometimes I feel like you may downplay it a little bit in terms of impact.

Because this user base continues to grow and the viewing takes place across more screens, what’s your current thinking on how material mobile is to your business now and going forward?

Hastings, Netflix, Inc. (NASDAQ:NFLX)

Well, it’s continuing to grow. Tablets in particular, phones some.
But so much of our viewing is on smart TVs or TVs connected to a Blu-ray player or a game console.
For a lot of our entertainment, we’re really pretty large screen centric. And so we’re less driven by mobile trends than say a music service would be.


you feel like that differs at all for newer subscribers?

Hastings, Netflix, Inc. (NASDAQ:NFLX)

It’s a little different. And younger subscribers and — but again, we’re not trying to be anyone screen. So we work great on a tablet, both Android and iOS. And we work great on a TV and so we’re not trying to pick and c hoose.

And in fact in any time period to say a month, many subscribers will use us on multiple screens, watch some on a smart TV, some on their laptop and someone a tablet and that’s fine for us.

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