A Netflix logo is pictured in Los Angeles, California, U.S., September 15, 2022. REUTERS/Mario Anzuoni/File Photoshares fell nearly 3% on Wednesday after the streaming pioneer forecast current-quarter revenue and profit below Wall Street estimates, hit by a delay in the wider roll-out of its solution to password sharing.
The company will now launch paid sharing widely, including in the U.S., between April and June. It reported a rise in subscriber growth in the first quarter in Canada - one of the markets where it has cracked down on password sharing. The move is expected to result in some knee-jerk churn and near-term earnings risks but should ultimately pay off, analysts said.
"The next few months will likely be noisy as paid sharing headline risk grows louder, but we'd be buyers of related pullbacks," J.P.Morgan analyst Doug Anmuth said.Reuters Graphics Cowen analyst Mark Mahaney said the average revenue generated per member on the $6.99 offering with ads was higher than that on the $15.49 subscription, suggesting Netflix had ramped up revenue generation through ads faster than expected.
Wrong horse, wrong race, wrong rider. Ewe!
I hope that its profits will decrease more and more so that Netflix cares about series and movies and does not distort the facts
Was Cleopatra that bad?
go woke go broke.... netflix here it comes.
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