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Closing Bell

Closing Bell Overtime: Netflix Reports Results 10/18/22

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 October 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Streaming giant Netflix reported earnings in Overtime. Our all-star panel of Joe Terranova, Shannon Saccocia and Alex Kantrowitz give instant reaction. Plus, stocks rallied again today – so has the bear market turned a corner? Chris Hyzy of Merril and Bank of America Private Bank gives his forecast. And, a preview of the top 3 themes to watch from Tesla’s earnings tomorrow. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Welcome everybody to overtime. I'm Scott Woffner. You just heard the bells and we are just

0:04.3

getting started from Post 9 here at the New York Stock Exchange. It is about to get real in the

0:09.1

OT. Netflix earnings, they are imminent. Our Julia Borston standing by with everything you need to know and you will hear from

0:15.8

her momentarily.

0:17.4

We also have Verti's chief investment strategist Joe Terranova and

0:21.4

Svib Shannon Sakosha, she owns Netflix. They're here to break it all down.

0:26.7

We're going to also kick around this rally. And stocks get their view on how long it can really

0:30.6

last, especially in light of those late day breaking apple

0:33.8

headlines about a cut in iPhone production stocks lost a little bit of

0:37.3

momentum on that news they did rally back though and finished for a really

0:41.6

strong couple of days.

0:43.3

So Shan, we're waiting on Netflix

0:45.4

and the numbers are crossing as we speak.

0:47.2

We can pop up the stock and we'll show you that.

0:49.2

And I said our expert Julia Borsen's going through this.

0:51.4

We're gonna have all the analysis on the other

0:52.8

side and you can see it looks to be an initial move higher in the O.T. But what do you want to hear?

0:59.6

We definitely want to hear more than a million subs this this quarter we want to see four

1:04.6

million subs for the fourth quarter but most importantly we want some clarity

1:08.1

on the ad tier they priced it below Disney Plus's lower ad tier and so what we're looking for is are we going to get

1:14.6

some some anticipated estimates around what that ad tier is potentially going

1:21.8

to cannibalize.

...

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