Netflix’s Q4 member adds, margins, free cash flows top estimates, says Truist

Truist analyst Matthew Thornton says his initial take on Netflix Q4 results is "positive" as the company’s member adds, margins, and free cash flows were ahead of estimates, though average revenue per user was "slightly below". Thornton also notes that the company is "pleased with early results" of its Advertising-Based Video on Demand, or AVOD, members and sees its engagement as "comparable" to ad-free Basic tier. The analyst has a Hold rating and a $339 price target on Netflix shares.