All Eyes on Netflix Earnings, and What Hitting the Debt Limit Means for the Fed 1/19/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 19 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Shares of Netflix on the move after the streaming giant posted a big beat on subscriber adds in the latest quarter, but announced Reed Hastings is stepping down as co-CEO. Plus the U.S. is taking “extraordinary measures” after hitting its debt limit. But could the resulting effects counteract what the Fed is doing to tamp down inflation?

Transcript

Click on a timestamp to play from that location

0:00.0	Right now in fast blown away, then back to Earth, Netflix adding 7 million new subscribers
0:06.0	in Q4, but Kostya Reed Hastings is stepping down and earnings for share posting a big
0:10.0	miss.
0:11.0	The key takeaways from the stream are coming up, plus, as the US grapples with the dead
0:14.4	ceiling and fears of a default this summer, we'll explain how the DC Brinksmanship could
0:18.5	create a backdoor easing of one of the Fed's key policy tools.
0:22.5	And later, a Facebook face-off, one big time advertising CEO, seeing a mega-medicum
0:27.4	backbone early investor says, not so fast the next 12 months could be rough.
0:31.6	This got the right read, we'll debate that.
0:33.6	I'm Melissa Lee.
0:34.6	This is Fast 20.
0:35.6	We're live with the Nasak Market site on the dust tonight, Tim Seymour, Bono and
0:38.1	Ice and Guaidami, and Steve Grasso.
0:40.6	We start off with Netflix shares or higher after hours of streaming giant adding, a way
0:44.2	more subscribers than expected, but missing earnings estimates in a big way, plus a shake
0:48.2	up in the sea suite as Reed Hastings is stepping down as Kostyaeo here to take us inside the
0:53.4	numbers to NBC's Julie Worston, Julia.
0:56.4	Hey, Melissa, that's right, a big subscriber beat.
1:00.1	That is what is driving Netflix shares higher.
1:02.1	The company added 7.66 million new paid subscribers that compares to the $4.5 million that Netflix
1:09.2	guided to.
1:10.2	Now, revenue was pretty much in line with expectations.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.