Please select the second broker
Netflix (NFLX) +14% after hitting 200m global subs milestone
Netflix (NFLX) was on course for its biggest single session share gains in two years on Wednesday after the streaming service said that its global subscriber base had soared past 200m in its latest Q4 update.
Netflix brought in 8.5m new paid subscribers during the latest period, an impressive rate of growth as consumers flocked to the service for the company’s festive slate of movies and TV shows.
The robust subscriber growth, which was keenly felt in European and Asian markets, set the scene for a stock rise in midweek as NFLX soared 14.55% to $574.79 on the Nasdaq.
Netflix’s returns were not quite as strong elsewhere, as its $1.19 earnings per share figure was 20 cents short of the Wall Street consensus ($1.39).
However, top line revenue of $6.64bn revenue did beat the pre-report forecasts by $380m.
Investors were also happy to see Netflix’s pledge to be cash flow positive before 2022.
The company expects to add 6m more subscribers and deliver $7.1bn revenue in Q1.
CFO Spencer Neumann said that its cash flow improvements were a “pretty big milestone” and that it would now have greater agility when self-funding its growth in the future.
KeyBanc Capital Markets believes that Netflix’s latest report “should refute many bear concerns”.
Analyst Justin Patterson noted that international markets are now a key driver for Netflix and that it won’t be as reliant on debt financing due to its free cash flow profile.
Analysts are more bullish on Netflix than they were a month ago, as there are now 23 buy (+2) ratings, compared to nine at hold and three at sell – the consensus is overweight.
Scam Brokers, Broker Complaints
Are you aware of a scam broker or want to make a broker complaint?
We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.
We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.
We use the information you give us to decide if we want to continue to promote a broker on our site.
Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.