Overview
- Netflix reports after Tuesday’s close, with consensus near $6.9 in EPS and $11.51–$11.52 billion in revenue.
- Shares trade around $1,240, roughly 10% below June’s record high, and the stock carries about a 45x forward multiple.
- Analysts maintain a broadly positive stance with Buy/Outperform ratings and targets around $1,300–$1,500, noting six straight estimate beats.
- Advertising is the key growth driver, with JPMorgan projecting ad revenue to rise from $1.4 billion in 2024 to $2.9 billion in 2025, supported by an Amazon DSP integration in 11 markets.
- Live programming has delivered scale—Canelo vs. Crawford drew an estimated 41.4 million viewers—as Netflix shifts investor attention from subscriber counts to engagement and ARPU.