Connect with us

Hi, what are you looking for?


Netflix up 15% on a blockbuster Q3: ‘it’s one of my favourite stocks’

Netflix Inc (NASDAQ: NFLX) jumped 15% in extended trading after the streaming giant pleased investors both in terms of subscriber number and the quarterly profit and revenue.

Netflix made up for subscriber losses

Netflix added 2.41 million subscribers in its recent quarter. That’s more than double the 1.1 million that Street had expected. In the prior two quarters combined, it had lost more than a million.

What’s more exciting, though, is the guidance. Netflix forecasts as much as 4.5 million new subscribers in Q4 versus analysts at 4.0 million. Discussing the earnings report on CNBC’s “Closing Bell: Overtime”, Shannon Saccocia – the Chief Investment Officer at SVP Private said:

If you look at 2023 and potential for free cash flow generation in this stock, you’ll be able to drive some earnings. We might have a bit of headwind for margin as they have a growing international business, but these numbers are blockbuster.

Mark Mahaney’s take on the Netflix stock

Netflix is set to launch its cheaper ($6.99 a month), ad-supported tier on November 3rd that’s expected to supercharge its subscriber and revenue growth. On a separate CNBC interview, Evercore’s Mark Mahaney said:

I think it’s the biggest catalyst in internet land. It’s a great, smart initiative. It’s a super aggressive price point. We’re starting to see this inflection point in free cash flow. I like Netflix, it’s one of my favourite stocks for next 12 months.

The media company is committed to cracking down on password sharing as well.

Notable figures in Netflix Q3 results

Earned $1.4 billion versus the year-agoPer-share earnings slipped from $3.16 to $3.10Revenue climbed 6.0% year-on-year to $7.92 billionConsensus was $2.14 a share on $7.84 billion in sales

For the fiscal fourth quarter, Netflix is calling for $7.80 billion in revenue, as per the letter to shareholders. In comparison, experts had forecast $7.97 billion.

The post Netflix up 15% on a blockbuster Q3: ‘it’s one of my favourite stocks’ appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.