Instant Reaction: Netflix Records Another Strong Quarter
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 17 October 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
Netflix added more than 5 million customers in the third quarter, and eclipsed Wall Street’s expectations on every major financial metric despite a new programming slate constrained by last year’s strikes in Hollywood. For instant reaction and analysis, hosts Tim Stenovec and Molly Smith spoke with Dan Morgan, senior portfolio manager at Synovus Trust.
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| 0:00.0 | After nearly 200 years of mitigating risk, at FM we can see what others don't. |
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| 0:16.2 | Are you looking for a new podcast about stuff related to money? |
| 0:20.4 | Well today's your lucky day. |
| 0:22.2 | I'm Matt Levine. |
| 0:23.0 | And I'm Katie Grifield. |
| 0:25.0 | And we are the hosts of Money Stuff, the podcast. |
| 0:28.0 | Every Friday we dive into the top stories about Wall Street, finance, and other stuff. |
| 0:33.0 | We have fun, we get weird, and we want you to join us. |
| 0:36.0 | You can listen to Many Stuff the Podcast on Apple Podcasts, Spotify, or wherever you get your podcasts. Citi looking closely at your Bloomberg terminal in terms of the news from Netflix just in the last nine minutes. |
| 1:06.6 | What sticks out to you? |
| 1:08.6 | Hi Tim, I'm Molly. |
| 1:10.1 | Yeah, it looks like overall from Er per share and revenue number. It looks pretty strong. |
| 1:16.8 | I heard Scarlet mentioned earlier about the expectations coming into this quarter being so high in the stock trading way up. I believe it's up over 45% year to date. |
| 1:27.6 | You know, Tim, I had a whisper number on new subs for the third quarter anywhere from six to seven million. |
| 1:34.4 | I know they beat the consensus. |
| 1:35.7 | That's like the whisper number that Scarlet was talking about. |
| 1:38.7 | Yeah, so they came in with 5.07. |
| 1:41.0 | You mentioned the stock is trading down a little bit. I just think there wasn't a lot of room for error. |
| 1:45.6 | Well now it's if it started trading down now it's higher by 3.5%. Okay there we go. But go ahead. |
| 1:52.3 | Sorry. |
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