Netflix (NFLX) App Download Growth Slows by 76% in September - Evercore ISI
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Evercore ISI provided an update on Netflix (NASDAQ: NFLX) 3Q App download trends noting that softer recent data checks paint an uncertain picture of Netflix international subscriber growth ahead of 3Q earnings.
The analyst stated "While we have traditionally updated Netflix’s App trends at the end of each month, we are inclined to refresh our 3Q outlook mid-way through September. Following strong trends we observed in July (likely due to a strong content slate), we highlighted a slowdown in international download activity beginning last month which has continued into September, and our latest read on the data suggests no improvement through the first half of the month. More specifically, MTD international app downloads in the App Store and Google Play Store for Netflix have only grown ~5% YoY, down from 21% growth across July and August".
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