Netflix (NFLX): 5 Reasons RBC's Mahaney Is Ahead Of Consensus
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RBC Capital analyst, Mark Mahaney, reiterated his Outperform on shares of Netflix (NASDAQ: NFLX) ahead of the quarter. Netflix is expected to report Q3 results on Monday, October 17th. The analyst is looking for $2.29B in revenue and $0.05 in GAAP EPS; slightly above the Street at $2.28B and $0.04, respectively.
Intra-quarter data points include:
1) U.S. Survey Results Show Rising Penetration including record high usage levels: 54% now use Netflix to watch Movies & TV shows – vs. 50% in May
2) 1,500+ UK survey shows NFLX penetration rising strongly with a record-high 42% of respondents using Netflix, up from 30% in August ’15
3) 1,500+ Brazil survey shows 71% of respondents now use Netflix, up from 60% in August ’15.
4) Positive Overall U.S. Traffic Trends with Q3 average monthly Multi-platform Unique Visitors at Netflix’s U.S. Website grew 32% Y/Y, accelerating 6-pts vs. Q2’s 26% Y/Y growth (though on a 15-pt easier comp).
5) Positive Early Reviews For The Crown ahead of the launch date of November 4th.
No change to the price target of $130.
Shares of Netflix closed at $100.23 yesterday.
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