Netflix earnings, subscriber growth top estimates as investors eye potential price hikes

Published On Oct 17, 2024, 4:22 PM

Netflix reported its third quarter earnings, exceeding both EPS and revenue estimates, driven by effective initiatives like cracking down on password sharing and an ad-supported tier. The company added over 5 million subscribers, surpassing expectations, and is projecting continued growth. Upcoming price hikes may further boost revenue as analysts anticipate another increase by the end of the year. Despite a strong performance, there are concerns around subscriber engagement and competition in the streaming market.

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Stock Forecasts

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Positive

With positive earnings and subscriber growth alongside plans for potential price hikes, Netflix is positioned for growth. The forecast indicates bullish sentiment driven by strong fundamentals and market confidence, despite potential headwinds from growing competition and subscriber churn.

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