Netflix Delay In Bringing Up AI At Earnings Call Didn't Escape Gene Munster: 'Not An AI Company'
Portfolio Pulse from Ananya Gairola
Gene Munster from Deepwater Asset Management highlighted that Netflix's (NASDAQ:NFLX) earnings call took 27 minutes to mention 'generative AI,' indicating that AI is not central to Netflix's business model. Despite this, Netflix reported strong Q2 revenue of $9.56 billion, beating estimates, and projected Q3 revenue of $9.73 billion.
July 19, 2024 | 4:26 am
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Gene Munster pointed out that Netflix is not an AI-centric company, as evidenced by the late mention of AI in its earnings call. Despite this, Netflix reported strong Q2 revenue and provided positive Q3 guidance.
The late mention of AI suggests that AI is not a core focus for Netflix, which could be a concern for investors looking for AI-driven growth. However, the strong Q2 revenue and positive Q3 guidance mitigate this concern, leading to a neutral short-term impact.
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