Posted on 04/22/2022 8:44:57 AM PDT by Morgana
The fallout from Netflix’s first-quarter losses continued on Wednesday when the streaming giant’s shares closed down more than 35 percent. According to CNBC, the sharp drop “led to a wave of downgrades from Wall Street on fears over the company’s long-term growth potential,” resulting in a loss of more than $50 billion of its market cap.
“It is now the worst-performing stock of 2022 in the S&P 500, down 62.5 percent year-to-date,” CNBC flatly stated.
Analysts with Bank of America, one of the nine Wall Street companies to downgrade the streaming platform, said the company’s current plans “reaccelerate growth” show a share of promise, they will likely have no “noticeable impact until ’24, a long time to wait on what is now a ‘show me story.'”
Analyst Jeffrey Wlodarczak with Pivotal also wrote on Tuesday that Netflix’s poor performance meant a reduction in “subscriber forecasts” and a substantial pushback in “profitability forecasts.”
With the closing of the second quarter, Netflix is projected to lose 2 million global subscribers. In a letter to shareholders on Tuesday, the company said the company’s content still remains popular but faces stiff competition. It also cited the company cutting off its paid 700,000 membership in Russia for a sharp drop in global subscribers.
“Our revenue growth has slowed considerably,” the company wrote. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.”
(Excerpt) Read more at breitbart.com ...
Thanks again, Jesus.
No problem, they can let all those Indians who speak Hindi, Tamil Telugu and Farsi take up the slack. If that don’t get it they can throw in some of those Turks, Egyptians and other mid-eastern denizens they’ve been courting with all their new ‘viewings.’
Awww.
I’ve been using my son’s Netflix logon to watch the only couple of shows I like on there. I dropped Netflix a couple of years ago after “Cuties”. The content now is even worse than before. If that’s possible. Simply awful. A boatload of really bad movies. But not the so-bad-they-are-funny movies. Even “Plan 9” or “The Mole People” would be a step up from the garbage on Netflix.
Want to have a good laugh? Find some Indian videos in Hindi on Youtube and turn on the auto-subtitles in English.
Yes there are some shows that are good few and far between last kingdom
They lost valuation, not money. Valuation looks sexy, but unless you’re selling the company doesn’t mean anything.
Do we even need to say it? Go woke,…You know the rest.
So about half what they paid the Obamas.
I’m not for sure what is happening here.
However, we get free streaming with Amazon Prime and a couple of 5-6 $ per month for streaming of some Brit channels and our $5/month donation to the local non profit PBS provides us with several streaming channels.
So we have basically unlimited and free/or low cost streaming at a minimal cost.
Is this like CNN+ where they want to charge you for free stuff you now turn down?
Gee, turns out that shilling child porn like “Cuties” wasn’t such a great idea after all.
Who would have imagined that decent people would have objected to outright child exploitation by Hollywood degenerates?
They had to compete with Disney somehow.
Bringing Obama on board sure is paying off.
By the time I get to something that looks watchable I'm ready for sleep.
They've got Bill Murray playing a saintly goofball veteran and Murray, bless his heart, shines nearly with genius, compared to all the other crap.
Give the peoples some insight or drama or get off the tube!
“They lost valuation, not money.”
Shareholders lost.
Only if they sell in the valley.
Obama was paid off for his administrations decision to allow streaming over the objection of the legacy cable/satellite companies.
That decision was a critical part of what allowed Netflix to flourish.
Stock Crash Cost Company $50 Billion
Stock Crash Cost SHAREHOLDER $50 Billion
I “normally” attended meetings once a month at their office nearby on Sunset and stopped doing it after China virus. We would just send one of our production staffers there because their culture grosses us and and makes our stomachs turn. We for our money so I dont really care right now if they went bankrupt, except for our royalties for which we will chase them in court.
“Only if they sell in the valley.”
No. Valuation was lost regardless.
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