Nexflix (NFLX) reported Q117 results after the close. The company beat EPS estimates by $0.03 while missing subscriber numbers. Netflix added 1.42 million U.S. subs versus estimates of 1.93 million. Global subs were 3.53 million versus an estimate of 3.90 million. The market will likely shake off these numbers as the company forecast Q2 revenues growth of nearly 31% and the addition of 3.2 million subs. The market is completely focused on growth. At some point the negative free cash flows and large streaming content obligations will hit the stock hard. A company doesn't add value when generating negative cash flows quarter after quarter after quarter. One interesting note in the shareholder letter is that the company made it clear that Netflix has no interest in competing with Amazon (AMZN) on the NFL deal and other live sports events. For now though, these numbers will satisfy the growth investors that will likely push the stock higher. Ultimately though, cash flows will matter. Disclosure: No position