Netflix’s reduced disclosures may disappoint the Street, says Citi

Citi keeps a Neutral rating and $660 price target on Netflix after its Q1 results. The company’s Q1 revenue was 1% above the Street and operating income was 9% above the consensus, while its Q2 outlook for operating income, net income, and EPS also came in above expectations, but Netflix missed on Q2 revenue guidance and indicated that they will no longer disclose net adds or ARPU beginning in Q1 o FY25, the analyst tells investors in a research note. Citi adds that the reduced disclosures by the company may disappoint the Street.