Netflix Stock Fast Forwards As Subscribers Surge: What's Going On Thursday?
Portfolio Pulse from Adam Eckert
Netflix Inc (NASDAQ:NFLX) reported strong Q3 results, beating consensus estimates with revenue of $8.54 billion and earnings of $3.73 per share. The company attributed the results to higher-than-expected member growth, with paid net adds of 8.76 million. Netflix also reported a growth in its ad tier, with memberships up almost 70% on a quarter-over-quarter basis. The company expects Q4 revenue of $8.692 million and earnings of $2.15 per share. Following the results, Keybanc analyst Justin Patterson upgraded Netflix from Sector Weight to Overweight and set a $510 price target.
October 19, 2023 | 1:07 pm
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POSITIVE IMPACT
Netflix reported strong Q3 results, beating estimates and driving its stock price up. The company's growth in memberships and positive outlook may continue to positively impact its stock.
Netflix's strong Q3 results and higher-than-expected member growth have led to a surge in its stock price. The company's positive outlook, including expected Q4 revenue and earnings in line with analyst expectations, as well as an upgrade from Keybanc, suggest that the stock may continue to perform well in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100