Netflix stock is being turned on its head

Netflix released its first quarterly revenue report for 2022 yesterday. Netflix lost 200,000 subscribers in the first 3 months. Stocks turned upside down after 3 months!

The company’s revenue for the first quarter of the year rose 10 percent compared to the same period last year to $7.9 billion. The company’s revenue for the same period last year was $7.2 billion.

Netflix subscribers fell by 200,000 in the first quarter of the year. During this period, the number of Netflix subscribers should increase by 2.5 million.

The decision to suspend its service in Russia following the attack on Ukraine in early March resulted in the loss of 700,000 members for Netflix.

NETFLIX STOCK DOWN 30 PERCENT

Netflix shares opened the first day of trading after the balance sheet date down 30 percent. Netflix shares fell to $243 with this drop.

Netflix stock fell 42 percent in the first four months of 2022.

Goldman Sachs lowered Netflix’s price target from $420 to $265 in an after-balance sheet report.

PLAN FOR 100 MILLION USERS

On the other hand, Netflix plans to convert 100 million users who use joint accounts and pay no fees after falling earnings. Of those 100 million users, 30 million are in the US and Canada.

Netflix has 222 million paying subscribers.

Source: Haber Global

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