NFLX - 1 Unstoppable Stock Up 72% in the Past 12 Months: Time to Buy?
2024-04-25 04:00:00 ET
The stock market had a terrible year in 2022 amid rapidly rising interest rates and fears of a recession. But since the start of 2023, investor sentiment has turned optimistic with the Nasdaq Composite index rising 50% as of this writing.
But there's one business whose shares have crushed that tech-heavy benchmark, soaring 96% over the same period. The company is Netflix (NASDAQ: NFLX) -- is it time to buy this streaming stock ?
Netflix recently reported financial results for the first three months of 2024. Revenue and diluted earnings per share totaled $9.4 billion and $5.28, respectively. The top line was up 15% year over year, while the bottom line skyrocketed 83%. These headline figures crushed Wall Street's estimates, and the report caps off an impressive run of strong financial performance from the streaming leader.
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1 Unstoppable Stock Up 72% in the Past 12 Months: Time to Buy?