Netflix (NFLX) PT Lowered to $211 at Atlantic Equities
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Netflix Gains After Losing Fewer Users Than Expected, Stifel Upgrades to Buy
July 20, 2022 6:11 AM EDTShares of Netflix (NASDAQ: NFLX) are up more than 7% in premarket trading Wednesday after the streaming giant lost fewer-than-expected subscribers.
Netflix reported a streaming paid net change of -970,000, compared to +1.54 million in the year-ago quarter, while analysts were expecting -2 million. Streaming paid memberships totaled 220.67 million in the period, up 5.5% YoY and above the consensus estimates of 220.2 million
Netflix reported EPS of $3.20, compared to $2.97 in the year-ago period and topping the consensus projection of $2.91 per share. Revenue came in at $7.97 billion, up 8.6% YoY, though missing the consensus projection of $8.04 billion.
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