Netflix to host video chat in lieu of earns call (Update)

Jul 09, 2013

Netflix already streams movies and TV shows. On July 22, it will also stream a live video discussing its earnings results.

Netflix Inc. said late Monday that instead of its regular conference call, CEO Reed Hastings and Chief Financial Officer David Wells will host a video chat discussing the company's quarterly results. The company said the discussion will be moderated by BTIG Research analyst Rich Greenfield and CNBC reporter Julia Boorstin.

Investors will be able to submit questions to the moderators by email or Twitter.

Even before Monday's announcement, Netflix had taken questions from investors over email. The company says the moderators will "incorporate as many questions as time permits into the discussion."

Netflix spokesman Jonathan Friedland said the company hopes that the video format will make for a more lively and enriching discussion.

Netflix has been pushing the boundaries of communicating with investors. It received scrutiny from the Securities and Exchange Commission in December, after Hastings posted on Facebook that Netflix's online video viewing "exceeded 1 billion hours for the first time ever in June." The SEC said at the time that posting on Facebook didn't amount to fair public disclosure of information that is material to investors.

In April, however, the SEC said that it was OK for a company to use social media for company announcements, as long as it tells investors where such information will be posted. The SEC said it didn't allege wrongdoing by Netflix or by Hastings.

Shares of Netflix rose $14.28, or 6.1 percent, to close at $247.38 on Tuesday, then added another 7 cents in aftermarket trading.

Explore further: Facebook's status update: Profit, revenue beat expectations

not rated yet
add to favorites email to friend print save as pdf

Related Stories

HBO stops selling DVDs to Netflix

Jan 05, 2012

(AP) -- HBO fired a shot across Netflix's bow this week, confirming it will no longer sell discounted DVDs of hit shows like "Boardwalk Empire" to the subscription video service.

Netflix to provide service to the UK, Ireland

Oct 24, 2011

Netflix Inc. plans to offer its online subscription service to the United Kingdom and Ireland starting early next year, providing access to movies and television shows.

Recommended for you

Google delivers another earnings letdown, stock sinks

14 minutes ago

Google has gotten into the habit of missing analysts' earnings targets, frustrating investors who believe the online search leader would be more profitable it wasn't pouring so much money into far-flung projects ...

Smartphone Snapshot: Samsung getting squeezed

1 hour ago

The runaway success of Apple's newest iPhone has fueled a dramatic shift in the global market: the California tech giant is now neck-and-neck with South Korea's Samsung for the title of world's leading seller ...

Mashable gets $17 mn funding led by Time Warner

4 hours ago

Mashable, a news website focused on technology and entertainment, said Thursday it raised $17 million in capital led by Time Warner Investments, to help fuel expansion plans.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.