— the one that sent its stock plummeting to five-year lows — that quarter must seem, to Ted Sarandos & Co., like nothing so much as a bad dream.
While Wall Street consensus estimates project around 5 million net subscriber additions for Q1, per Visible Alpha, it’s fair to say investors are expecting more. In a research note last week, Morgan Stanley forecast net subscriber additions of 7.3 million for Q1, which would be the streamer’s highest for the quarter since pre-pandemic times; this week, MoffettNathanson raised its own estimate from 5 million to 7 million.
In other words, Netflix appears poised for continued significant gains even as growth from the password crackdown starts to subside. Indeed, that growth is now buttressed by different advantages, including more popularmight grow overly complicated, at least for now. “We see recent success in paid sharing as increasing our willingness to underwrite success in advertising and games over time,” Morgan Stanley analysts wrote in their research note.
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