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Netflix (NFLX.US) is set to report its Q3 earnings, with market expecting a 33% YoY growth in net profit
AInvestSunday, Oct 13, 2024 10:30 pm ET
1min read
NFLX --

Netflix (NFLX.US) will report its third-quarter financial results on Thursday, October 17, Eastern Time. Analysts expect Netflix's Q3 revenue to be $9.77 billion, up 14% YoY; expect its net profit to be $2.23 billion, up 33% YoY; expect its diluted EPS to be $5.11, up from $3.73 in the same period last year.At the same time, analysts expect Netflix's global user number to be 286 million as of the end of the third quarter, up about 4 million from the previous quarter and up more than 30 million from the same period last year. Netflix previously said it would stop reporting user data from 2025 and focus on financial indicators.Analysts said that Netflix's crackdown on password sharing has been successful in attracting new users. However, Barclays analysts recently downgraded the stock rating of Netflix from "Hold" to "Sell", with a target price of $550. Analysts said that "Netflix's growth algorithm is becoming increasingly complex".KeyBanc analysts pointed out that the fourth quarter is very important for Netflix, as it will broadcast NFL matches for the first time during Christmas, which may serve as a catalyst for the platform's user growth. In addition, Netflix will become the official broadcaster of WWE Raw and other programs under TKO Group Holdings (TKO.US) from next year.

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