345.38 +7.27 (2.15%)
Pre-Market: 4:00AM EST
|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||332.60 - 340.25|
|52 Week Range||252.28 - 385.99|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||108.33|
|Earnings Date||Apr 13, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||363.21|
Netflix grew by 8.8 million net subscribers in the fourth quarter of 2019, according to its latest earning report, putting its growth well ahead of its forecast of 7.6 million. It also reported stronger-than-expected financials, with revenue of $5.47 billion and earnings per share of $1.30, compared to analyst estimates of $5.45 billion and EPS of 53 cents.
Netflix on Tuesday continued to conquer the world - but it fell slightly short in its own backyard. The streaming giant added over 8.7 million subscribers worldwide in the fourth quarter - beating Wall Street's expectations - but membership growth lagged in the U.S. and Canada. Oscar-contender "The Irishman" and award-winning series "The Crown" helped grab a global audience, in addition to an enhanced slate of non-English programming. But in the U.S., Netflix hiked its subscription price, then witnessed the launch of streaming rivals Apple TV+ and Disney+ - with HBO Max and NBC's Peacock coming this spring. Adding insult to injury, the latter two are about to swipe a pair of Netflix's most popular shows, with "Friends" soon heading to HBO Max and "The Office" streaming on Peacock next year. As the competition picks off its hits, Netflix is countering by pouring money into new content. Last year's cash budget was $15 billion. That could not only buy Netflix more viewers in 2020, but could also result in lots of gold statuettes, as Netflix's 24 Oscar nominations are more than any other studio's.
SAP's new co-CEO Christian Klein chats with Yahoo Finance at the 2020 World Economic Forum about the company's biggest priorities.
International growth helped the streaming video service trounce expectations in the last quarter of 2019. Rivals including Walt Disney Co and Apple Inc are now fighting for streaming customers, and Netflix said it expects to add 7 million subscribers globally in the first quarter, below analysts' average of 8.82 million, according to IBES data from Refinitiv. For a company that has historically taken great pains to avoid mentioning competitive forces - it once called the video game Fortnite a bigger rival than other streaming services - it spent a considerable amount of time explaining why Disney's power will not have as damaging an effect on its engine of growth outside of America.
Futures: Stocks held up Tuesday even as China virus fears slammed travel stocks. Netflix subscriber growth and IBM earnings beat, sending both stocks higher late. Tesla just kept rising.
(Bloomberg) -- Netflix Inc. is facing the toughest year in its history in terms of new streaming competition, but the company says it’s ready.With technology and media giants such as Apple Inc., AT&T Inc., Comcast Corp. and Walt Disney Co. all bringing new video platforms online, Netflix is working to keep customers loyal with a flood of shows and movies. The company plans to boost its spending by 20% this year, bringing its programming budget to about $12 billion on a profit-and-loss basis.“We view our big long-term opportunity as big and unchanged,” Chief Executive Officer Reed Hastings said during a pretaped recap of its fourth-quarter earnings, released Tuesday.Netflix climbed as much as 4.3% in late trading after delivering generally upbeat results, with overseas growth helping offset a slowdown at home. Though the company expects to add fewer subscribers in the current quarter than Wall Street projected, it said there’s “ample room for many services to grow.”Netflix investors have been grappling with whether the company’s days of reliable growth are over. The company added fewer customers in 2019 than it did in 2018, and its increase in the U.S. and Canada decelerated by more than 3 million. In posting the results Tuesday, Netflix said price hikes and a growing array of options have made it harder to attract customers.It’s only going to get tougher. Apple’s TV+ and the Disney+ platform both launched in the U.S. during November, enticing consumers with lower-cost services, while AT&T’s HBO Max and Comcast’s Peacock are both coming online in the next few months.All those competitors are likely to slow customer additions and increase the number of existing customers who cancel Netflix.Against that backdrop, Netflix posted its weakest year of domestic subscriber growth since it first broke out its online service from the company’s traditional DVD-by-mail business in 2011. Netflix is projecting a gain of 7 million paid subscribers worldwide in the first quarter, short of the 7.82 million estimate.“We are working hard to improve our service to combat these factors,” it said in a letter to shareholders.Staying the CourseBut the Los Gatos, California-based company argues that its strategy is still sound, and competition shouldn’t cause it to change course. Losing popular shows such as “Friends” to its new rivals has had no impact on viewership so far. Netflix subscribers are just finding other shows to watch, Chief Content Officer Ted Sarandos said.For proof, Netflix can point to its global growth in the latest quarter. The company added 8.76 million customers in the period, compared with forecasts of 7.65 million. Hastings described them as “amazing numbers.”Netflix has pinned its future potential on growth outside the U.S., where it doesn’t yet face the same level of competition. Europe and Latin America have been the company’s engine in the past couple years, and continued to serve that role in the fourth quarter. Netflix added 4.4 million customers in Europe, bringing its overall total to almost 52 million, and another 2.04 million customers in Latin America.Non-English ShowsNetflix plans to release more than 100 seasons of local language programming next year. Though its biggest global hits are mostly English-language shows such as “Stranger Things” and “The Witcher,” its most popular programs in many territories are in other languages, like Spain’s “Casa de Papel.” The company is also experimenting with different pricing plans in Asia.Netflix has borrowed billions to fund all that programming, and its long-term debt stands at almost $15 billion. But the company said this past year will mark the high-water mark in terms of its cash burn. Earnings of $1.30 a share also handily beat analyst estimates of 30 cents, lifted by a tax benefit.Investors weren’t sure what to make of Netflix’s results at first. The shares had dropped as much as 3% to $327.97 in extended trading before rebounding. The company’s shares climbed 4.5% so far this year before the close.“After several years of unchecked dominance in the U.S. streaming-video industry, Netflix faces high-profile new streaming rivals,” Geetha Ranganathan, a Bloomberg Intelligence analyst, said in a report. “Yet the breadth of its content and a compelling value proposition will make it hard for new entrants like Disney+ to unseat the company.”(An earlier version of the story corrected a quarterly financial comparison.)To contact the reporter on this story: Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
What does it mean to “watch” a show on a streaming service? For Netflix Inc., it now means viewing at least two minutes.
Netflix Inc. on Tuesday reported a bump in revenue and global net additions, but offered soft subscription guidance for the current quarter, sending shares slightly down in extended trading.
Subscription streaming video service Netflix late Tuesday crushed Wall Street's targets for new subscribers and earnings in the fourth quarter. But its Q1 subscriber outlook was below views.
Value investing once again fell short for David Einhorn’s Greenlight Capital. The hedge fund gained 13.8% in 2019, but lagged behind the S&P 500’s 31.5% rise, continuing Greenlight’s trend of underperforming Wall Street in recent years. When the S&P 500 shed 7% in 2018, for example, Greenlight plunged 34%—its worst year ever.
Netflix’s growth driver continued to be its international user base in the last quarter of 2019, its latest financial results showed.
Netflix Inc. defied Wall Street's expectations — and its own — on Tuesday, adding nearly 8.8 million paid global subscribers in the fourth quarter, up 20 percent from the same time frame a year ago. The streaming giant had forecast 7.6 million global net adds during the quarter, when it first faced competition from Disney+ and, to a lesser extent, Apple TV+. Netflix now has 167 million paid subscribers worldwide.
Netflix (NFLX) reported Q4 earnings after markets closed on January 21, 2020. It hit subscriber estimates this quarter, but expects growth to slow next quarter.
Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast. The indexes extended their losses after the Centers for Disease Control and Prevention confirmed the first U.S. case of the coronavirus, which has now killed six people in China.
Netflix Inc (NASDAQ: NFLX) bested its international subscriber growth goals, increasing global streaming subscribers by 20% year over year, while beating analysts EPS and revenue estimates for the fourth quarter. The company reported quarterly earnings of $1.30 per share, which may not compare to analysts' estimate of 53 cents. The company reported quarterly sales of $5.47 billion, topping analysts' expectations of $5.45 billion.