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Netflix Financial Breakdown
Netflix’s share price surpassed $1,000 earlier this year and currently hovers around $1,200 despite a 6.5% decline in after-hours trading following its third-quarter earnings report released on October 20, 2023. The company reported revenue of $11.5 billion, a 17.2% increase, and earnings per share of $5.87, which fell short of analysts’ expectations of $6.97 due to a tax-related expense.
Moreover, Netflix’s view share increased by 15% in the U.S. and 22% in the U.K. since Q4 2022, signaling strong audience engagement. The company anticipates fourth-quarter revenue growth of 16.7%, projecting $12 billion with an operating margin increase to 23.9%. Despite these results, Netflix’s stock is now down 13.3% from its peak this year, presenting a potential buying opportunity for investors.
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