Last week, Netflix, Inc. (NASDAQ:NFLX) and Etsy Inc (NASDAQ:ETSY) hit records on the boards, Natalia Angulo reports on Fox Business Network.
According to Angulo, Netflix, Inc. (NASDAQ:NFLX) shares soared to a fresh high on Thursday as the company’s stock hit over $500 per share.
The company’s stock price was buoyed by better-than-expected quarterly results in terms of subscriber growth, the reporter notes, as Netflix, Inc. (NASDAQ:NFLX) reported a 22% rise in subscribers year-over-year.
That is precisely why Wall Street ignored a huge miss on Netflix, Inc. (NASDAQ:NFLX) earnings per share, according to Tuna Amobi, as industry observers put more emphasis on the company gaining more subscribers which puts it in a position to reap benefits mainly in the form of revenue starting next year and beyond.
Meanwhile, Etsy Inc (NASDAQ:ETSY) made its market debut on Thursday, according to Angulo.
Shares of Etsy Inc (NASDAQ:ETSY), a Brooklyn-based competitor to Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY), more than doubled on its initial public offering day, she adds.
Angulo also reveals that Etsy Inc (NASDAQ:ETSY) had 1.4 million sellers and nearly 20 million buyers as of December, 2014. The online marketplace specializing in handmade, vintage and specialized items is expected to grow about 17% in three years.
Meanwhile, apart from Etsy Inc (NASDAQ:ETSY) and the entertainment content streaming firm Netflix, Angulo also says that Intel Corporation (NASDAQ:INTC) reported mixed results for this year’s first quarter.
The chip giant missed consensus on revenue, the reporter notes, which the company attributed to weak demand in the personal computer market.
Angulo also discussed American Express Company (NYSE:AXP) which she says posted a better-than-expected profit growth in the first quarter of 2015. The result of the company’s latest quarter was boosted by a rise in spending by U.S. consumers.
Another highlight of last week, according to the Fox Business Network reporter, is the European Union’s lawsuit against Google Inc (NASDAQ:GOOGL) over alleged antitrust violations. Last week, we reported how Margarethe Vestager, the EU’s antitrust commissioner and the woman leading the legal war against the Silicon Valley icon, praised the internet giant for its success while maintaining that the lawsuit has sound legal bases, unlike what Jim Cramer suggest one should believe.
Carl Icahn’s Icahn Capital LP owned about 1.41 million Netflix, Inc. (NASDAQ:NFLX) shares by the end of the last quarter of 2014.
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