Netflix ( NASDAQ:NFLX )
On Wednesday morning, Netflix ( NASDAQ:NFLX ) stock jumped almost 10% after the streaming TV giant reported third-quarter numbers that beat forecasts and issued a projection for subscriber growth that indicated its recent difficulties might be gone.
Late on Tuesday, Netflix ( NASDAQ:NFLX ) said it had gained 2.41 million net customers during its third quarter, bringing its total number of global users to 223.09 million. Also, it seems like things are looking up for Netflix stock, as the company forecasts adding 4.5M new users in the fourth quarter.
Co-CEO of Netflix ( NASDAQ:NFLX ) Reed Hastings was candid about how he felt about the company’s recent subscriber growth and future prospects.
It’s “a significant thing to get back to the positive,” Hastings said on Netflix’s (NFLX) earnings call, thanking God for the end of the company’s “shrinking quarters.”
Wall Street welcomed Netflix ( NASDAQ:NFLX ) quarterly report and business forecast. Analyst Steven Cahall of Wells Fargo, who covers Netflix stock and has an equal weight rating and a $300 price target, recently said that the firm seems to have passed through its “dark days” and that the worst may be over.
While there...
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