Netflix Stock Tumbles: Analyst Says Streaming Giant ‘Doing Everything Right’ But Growth Factor Doesn’t Meet ‘Hurdle For True Tech Company’
Shares of Netflix, Inc. (NASDAQ:NFLX) fell sharply in after-hours trading on Thursday following its first-quarter earnings release. Fund manager Gary Black and tech venture capitalist Gene Munster weighed in with their takes on the report.
The company reported first-quarter earnings, revenue, and subscriber numbers that all beat estimates. However, it cautioned that subscriber numbers could decline sequentially in the second quarter due to seasonality, and also issued below-consensus revenue guidance for the quarter. The earnings per share guidance, however, was above expectations.
What Put Off Investors? “Perhaps troubling investors was Netflix’s announcement that it would stop providing quarterly paid membership numbers (and presumably net adds) starting in 2025/Q1,” said Black in a post on X.
The company faces tougher comparisons …
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