Subscription online video service Netflix late Tuesday obliterated Q4 earnings estimates on better-than-expected subscriber growth and profitability overseas. Netflix (NFLX) said it now expects to complete its global expansion over the next two years while remaining profitable overall. Netflix stock was up 14% in after-hours trading Tuesday following the earnings release, after rising 3.4% in the regular session. Netflix earned 72 cents a share
IBM, challenged by slower growth in its older businesses as it transitions to a new business model, reported mixed fourth-quarter earnings late Tuesday. On the upside, IBM (IBM) reported earnings minus items of $5.81 per share, well above the analyst consensus estimate of $5.41. But EPS fell 6% from the year-earlier period, the second quarter in a row of decelerating earnings. Revenue fell 12% to $24.1 billion, below estimates of $24.76 billion
Even after all the high-profile online breaches, companies have a false sense of security. So says Cisco Systems (CSCO) after looking at the results of its latest security survey. Most security executives in the global poll say their security is more than effective, but they’re not going beyond standard protocols to protect their networks from cyberattacks, says the poll set to be released Tuesday. The report from the No. 1 maker of networking