Netflix turned a corner? Let's see.
Netflix beat the top and bottom line.
- Revenue was 7.93B vs 7.84B forecasted
- Earnings per share was 3.1 vs 2.17 forecasted
- New subscribers added was 2.4 million vs 1 million forecasted. Majority of growth came from Asia pacific while US and Canada saw the smallest growth.
So what's the growth rate? Revenue growth year on year is calculated here. Quarterly revenue in 2022 divided by 2021.
Q1 yoy 7.867 B/7.163 B = 9.8% growth
Q2 yoy 7.97 B/7.341 B = 8.6% growth
Q3 yoy 7.93 B/7.483B = 5.9% growth
Tell me what you see... Growth is in single digits![Surprised]
I know Ad tier membership will kick in next year and estimated to add 1-2 billion in revenue in 2024. We'll see if that helps. My take is that Netflix needs more revenue streams to maintain attractiveness as a Big Tech growth company.
Pre trading it is up almost 14% to $274 vs yesterday's close of 240.86.
With euphoria, stock price will rise together with this bear market rally. This rally should have legs to last a while more, hence Netflix stock will ride the wave. However, 200 day moving average might act as resistance that's currently at 282.84.
I'm not too keen on Netflix given uncertainty in growth for next 5 years, so I'm staying clear and just support Netflix by watching the movies and series instead. [LOL]
@TigerStars@Tiger_Earnings@MillionaireTiger@Tiger_chat
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[微笑]