Industry News

Netflix edges up ahead of Q4 results; live sports push in spotlight

21 January, 2024

** Netflix's shares up 0.8% at $864.79 ahead of Q4 results expected after the bell

** Wall Street expects the streaming pioneer to add more than 9 mln subs in Q4, according to LSEG compiled data, driven by the success of "Jake Paul vs. Mike Tyson" boxing match and the debut of popular National Football League games

** Analysts project NFLX to post Q4 revenue of $10.11 bln vs. $8.83 bln reported a year earlier

** NFLX's success was powered by three key factors: exceptional subscriber retention, strategic content expansion including live events, and a surge in its supply share of global streaming originals - research firm Parrot Analytics

** NFLX accounted for 24.9% of the total global supply of streaming originals in Q4 2024, its highest share since Q1 2022 - Parrot Analytics

** 32 of 48 brokerages rate the stock "buy" or higher, 13 "hold" and 3 "sell"; their median PT is $922.50 - LSEG

** NFLX's shares rose ~83% last year, marking their best annual performance since 2015; the stock also outperformed peers including Walt Disney, Comcast and Warner Bros Discovery

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