Netflix’s reduced disclosures may disappoint investors, says Citi

Citi says NFLX reported Q1 revenue 1% above the Street and operating income that was 9% above the consensus. However, the company provided a 2024 revenue growth outlook range that, at the midpoint basis, falls below the Street, the analyst tells investors in a research note. Management also noted that they will no longer disclose net adds or average revenue per user beginning in Q1, Citi points out. It suspects reduced disclosures may disappoint the Street. The firm keeps a Neutral rating on the shares with a $660 price target.