Why Netflix Stock Slumped Today
Shares of streaming-video platform (NASDAQ: NFLX) slumped on Friday after the company reported financial results for the first quarter of 2024. The company's numbers looked great but investors seem concerned with a confusing change in its disclosures going forward. As a result, Netflix stock was down 8% as of 11:45 a.m. ET.
In Q1, Netflix kept building upon recently improving trends in the business. The company's revenue was up 15% year over year to $9.4 billion -- its third consecutive quarter of accelerated growth. And it had operating income of $2.6 billion, which was its best quarter ever for this metric.
Netflix's management gave upbeat guidance for the rest of 2024 as well. Specifically, it expects 13% to 15% top-line growth, which is impressive for a company of this size. And it raised its full-year operating margin guidance to 25%, up from previous guidance of 24%.
Source Fool.com
Netflix Inc. Stock
Currently there is a rather positive sentiment for Netflix Inc. with 81 Buy predictions and 8 Sell predictions.
As a result the target price of 609 € shows a slightly positive potential of 4.71% compared to the current price of 581.6 € for Netflix Inc..
