It won’t just be all about subscribers and financials in Netflix’s quarterly earnings report and call on Tuesday, July 20. Wall Street and Hollywood will also be closely watching for management to …
The “initial reaction of the financial markets has been positive,” Bernstein analyst Todd Juenger wrote in a July 15 report of Netflix’s gaming hire, but added: “There are dozens of different ways Netflix could pursue video games.”
Juenger mentioned that some investors were wondering if “knowing second-quarter results and the third-quarter guide will be received as weak, Netflix leaked this story now in order to change the narrative, distract, divert attention from the core business.” But the analyst offered: “In our strong view, Netflix management has never behaved in a way where they would be expected to engage in such short-term diversions to try and impact/protect the stock price.
In terms of Netflix’s latest subscriber update, management, led by co-CEOs Reed Hastings and Ted Sarandos, has set a low bar of just 1 million new members in the second quarter that ended June 30 after nearly 4 million net additions in the first quarter, below expectations. That would compare to the 10 million subscribers gained in the coronavirus pandemic-fueled second quarter of 2020.
Wedbush analyst Michael Pachter reiterated his “underperform” rating and $342 price target on Netflix’s stock on Thursday. He forecasts no change to the streamer’s subscriber base in the U.S. and Canada, but growth of 1 million in
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