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Closing Bell

Closing Bell Overtime: Netflix Earnings From Every Angle; Ben Silverman On Streaming Landscape 10/17/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 17 October 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Netflix shares rose in Overtime after reporting earnings. We have you covered from all the angles: closely-followed analyst Mark Mahaney on the stock move; Propagate Content Chairman and former NBC executive Ben Silverman breaks down the content strategy and an update on the broader streaming wars; DoubleVerify is one of Netflix’s ad partners and its CEO discusses the streaming giant’s ad strategy and how it plans to grow. Plus, CSX CEO Joe Hinrichs on the health of the economy from his perspective and Robinhood Chief Brokerage Officer Steve Quirk on the company’s new Legend tool and the latest sentiment from the users.

Transcript

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0:00.0

That's the end of regulation. Bell Ring brands ringing the closing bell at the New York

0:05.6

Stock Exchange, the Knowledge House doing the honors at the NASDAQ.

0:08.6

Well, the Dow just setting another record close as solid economic data and bullish bets on chips.

0:14.0

Lift sentiment. It looks like the S&P is going to close unchanged here and the

0:18.4

NASDAQ well off the best levels of the day as well. That's a scorecard on Wall Street.

0:23.2

But the action's just getting started. Welcome to Closingville over time. I'm Morgan Brennan

0:26.7

with John Ford. Well, it is Netflix time. Earnings from the mother of all

0:31.2

streamers. Just crossing. We're going through them now.

0:34.0

We've got a great lineup of experts ready to break down those numbers and the

0:38.4

read through for the rest of tech. And the Netflix results just cross so

0:41.9

we're gonna bring you those in just a moment

0:43.9

here let's bring in our market panel in the meantime Barbara Duran of B8

0:47.5

capital partners she's a shareholder of Netflix and evercore i-si analyst mark mahaney who has a

0:52.4

buy rating on the stock.

0:54.8

So Barb, I'm going to start with you, but keep in mind we're probably going to interrupt here

0:59.2

in just a second once we get these preliminary results ready for TV.

1:05.0

You are shareholder, stocks run something like,

1:08.0

and never mind.

1:09.0

Julia Borsen has those results for us, Julia.

1:12.0

That's right, we have the top and bottom line results here on

1:14.5

Netflix beating on both the top and bottom with adjusted earnings per share of

1:19.2

five dollars and 40 cents that's versus expectations of $5.12,

...

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