Netflix Stock Is Sliding Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Netflix Inc (NASDAQ:NFLX) shares are trading lower after the company reported mixed Q2 results and issued soft revenue guidance. Q2 revenue of $8.19 billion missed estimates of $8.29 billion, while Q2 EPS of $3.29 beat estimates of $2.85. The company ended the quarter with 238.39 million global paid subscribers, up 8% YoY. For Q3, Netflix anticipates revenue of approximately $8.52 billion versus estimates of $8.68 billion. Despite some weak spots, several analysts raised price targets.
July 20, 2023 | 1:04 pm
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Netflix's Q2 results were mixed, with revenue missing estimates but EPS beating them. The company's Q3 revenue guidance was also lower than expected. However, several analysts raised their price targets for the stock.
Netflix's stock is likely to be negatively impacted in the short term due to the lower than expected Q2 revenue and soft Q3 guidance. However, the impact may be mitigated by the fact that several analysts have raised their price targets for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100