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Netflix (NFLX) Stock: Climbs Ahead of Q2 Earnings as Wall Street Predicts 44% Profit Jump
Investor optimism continues to build as Netflix heads into its highly anticipated second-quarter earnings, scheduled for July 17. The stock price has responded accordingly, soaring by a significant 1.21% on Monday. This impressive performance can be attributed to the overwhelming bullish sentiment shared among analysts.
According to forecasts, the streaming giant is expected to record an astonishing 44% year-over-year profit surge, reaching a staggering $7.05 per share in adjusted earnings. The company’s remarkable growth stems from its exceptional subscriber count and strategic product diversification efforts. This impressive track record has enabled Netflix to outperform major indices and industry peers.
Despite JPMorgan downgrading Netflix from “Overweight” to “Neutral” on May 19, the broader analyst consensus remains optimistic. In fact, of the 45 analysts covering the stock, a whopping 28 rate it as a “Strong Buy”, three suggest a moderate buy, and 14 recommend holding onto their shares.
The streaming behemoth’s performance has not been limited to its quarterly earnings alone. Its long-term momentum is equally impressive, having soared by an astonishing 93.3% over the past year. This significant outperformance can be directly attributed to its exceptional subscriber growth and diversification efforts. The company now boasts a remarkable footprint across nearly 190 countries worldwide.
As Netflix prepares to announce its Q2 earnings, market observers will not only be closely monitoring the top-line numbers but also scrutinizing the company’s commentary on future growth areas such as gaming and international expansion.
Source: coincentral.com
