Netflix Shatters Earnings Expectations With Surprising Revenue Reveal And Soaring Subscriber Surge - But What's Happening With The Stock?
Portfolio Pulse from Zaheer Anwari
Netflix Inc (NASDAQ:NFLX) reported first-quarter earnings with a revenue of $9.4 billion and a profit per share of $5.28, surpassing analyst expectations. The company added 9.3 million paid net subscribers, reaching 270 million global subscribers. Despite the positive earnings report, Netflix's stock experienced volatility, opening nearly 7% lower and closing down by 9% after the announcement. The stock has rallied 234% from a May 2022 low but has shown a 9% decline since April, with investors watching the $500 support level.
April 22, 2024 | 6:29 pm
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Netflix Inc exceeded Q1 earnings expectations with significant revenue and subscriber growth but faced stock volatility, closing down 9% post-announcement.
Despite surpassing earnings and subscriber growth expectations, Netflix's stock experienced a sharp decline post-earnings announcement, indicating a negative short-term impact. The stock's volatility and the market's reaction to the earnings report, despite positive performance indicators, suggest a cautious outlook among investors. The focus on the $500 support level highlights the significance of this price point for future stock movement.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100