IlluminateIC Staff Writers
Netflix rebounds from recent subscriber losses with 3Q gain
Updated: Jan 10
“The Worst Appears Behind It”: Wall Street Analysts Boost Netflix’s Stock Price Target Amid Growth Plan.
By: Illuminate IC Staff Writers
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Netflix’s return to growth in the third quarter as well as top executives’ comments on its upcoming advertising tier led multiple Wall Street analysts to boost their stock price targets. “The dark days are over,” “the worst appears behind it” and “the sky, at least temporarily, is not completely falling on the key subscriber flywheel” were among the cacophony of takes to arrive in investor notes after the Oct. 18 disclosure.
The stock of the streamer, led by co-CEOs Reed Hastings and Ted Sarandos, also jumped more than 10 percent in early trading, reaching $265.18 a few minutes into the trading session. Netflix had added 2.4 million subscribers for a total of 223 million global subs, a relief after two consecutive quarters of subscriber losses.
More below courtesy Associated Press.