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Netflix’s Q3 Update and Stock Split
Netflix (NASDAQ: NFLX) experienced a share price decline following a mixed third-quarter earnings report, where the company reported a loss of $619 million due to a tax dispute with Brazilian authorities. The report showed revenue of $11.5 billion, a 17.2% increase from the previous year. Subsequently, Netflix announced a 10-for-1 stock split, raising investor interest, though the stock did not recover all its losses from the earnings drop.
Despite the recent challenges, Wall Street analysts maintain a positive outlook, suggesting a price target of $1,347.32, which indicates a potential upside of 22.3% from current levels. Netflix’s underlying business remains strong, with free cash flow reported at $2.66 billion, marking a 21.2% improvement. The company continues to expand its advertising revenue, with its best quarter for ad sales to date.
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