Netflix (Neutral, TP: $320, -7%) 4Q22 Takeaways: Strong Content Slate, Strong Results, Raising Target
NFLX deservedly outperformed the group today on the back of strong 4Q22 paid net additions and 2023 operating margin and FCF guidance. We think the commencement of password sharing restrictions this quarter is likely to kick off a heated investor debate about whether 2H23 net adds are too low if paid sharing is successful.Netflix is engaged in subscription streaming entertainment service including TV series, documentaries and feature films across a variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, without commercials. Additionally, several members in the United States subscribe to the company's DVD-by-mail service. The company improves its streaming content with a focus on a programming mix of content. The company's members can download a selection of titles for offline viewing. The company operates its business as a global operating segment.
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- Pan European Telecom Services and Cable
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- Global Emerging Market Telecoms
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We provide debt research on:
- Pan European Telecom Services and Cable
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