Netflix Q2 Preview: On Track For Strong Quarter—Weak Dollar Could Give It A Lift
Netflix is expected to report strong Q2 results, with earnings projected at $7.05 per share, slightly above guidance. Analyst Jessica Reif Ehrlich maintains a Buy rating with a price target of $1,490, citing a weak dollar as a potential boost. The company continues to lead in viewership, highlighted by the success of "Squid Game" season 3. Netflix shares were down 0.14% at $1260.24 at the time of publication.
In a rapidly evolving entertainment landscape where streaming giants vie for dominance, Netflix Inc. NFLX sustained leadership in viewership underscores its pivotal role in shaping the future of digital content consumption.
Netflix remains the world's leading paid SVOD (subscription video on demand platform) by viewership, according to BofA Securities.
The Netflix Analyst: Analyst Jessica Reif Ehrlich reaffirmed a Buy rating and price target of $1,490.
The Netflix Thesis: The company is likely to report its second-quarter results broadly in line with guidance, while currency impact could lend "modest upside" due to the dollar weakening during the quarter, Ehrlich said in the note.
Check out other analyst stock ratings.
Netflix could report earnings of $7.05 per share, slightly higher than the guidance of $7.03 per share, she added.
“Squid Game” season 3 had the best 10-day viewership in Netflix’s history, with 106.3 million views, the analyst stated.
"The remainder of the 2H slate should continue to build on this success with the return of high profile shows (Wednesday & Stranger Things), new releases (Frankenstein, Happy Gilmore 2, etc.) as well as live events (Álvarez vs. Crawford, NFL on Christmas, etc.)," she further wrote.
NFLX Price Action: Netflix shares were down 0.14% at $1260.24 at the time of publication Tuesday, according to Benzinga Pro.
- Netflix’s Squid Game Reality Show Gets Season 2 Date: $4.56 Million Prize Without The Killing
Photo: Shutterstock
