Market News

NFLX Races Ahead After-Hours Following Earnings

Netflix (NASDAQ:NFLX) recently reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.12, which missed analysts’ consensus estimate of $0.55 per NFLX share.

Sales increased 1.8% year-over-year, with revenue hitting $7.85 billion. This was a near-match for the $7.856 billion that analysts were looking for. Turning to subscriber growth, Netflix’s subscriber base increased by 7.66 million, which was more than its goal of 4.5 million net new subscribers. Looking forward, the company expects to add 2.6 million net new subscribers in the first quarter of 2023.

Overall, Wall Street has a consensus price target of $329.14 on NFLX stock, implying 4.23% upside potential, as indicated by the graphic above.

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