The company’s forecast of 4.5 million customer acquisitions by the end of 2022 slightly exceeded Wall Street estimates, which had been 4.2 million on average. For the fourth quarter, Netflix projects revenue of $7,800a sequential decline that he blames on the strong value of the US dollar.
“This represents a slight growth of approximately 1.2% compared to the same period of the previous year,” he said. Damien Vlassich, Equity analyst at IOL invested online, this “increase would be leveraged by an expectation of reaching 4.5 million additional paid accounts (compared to 8.3 million in the fourth quarter of 2021)”.
“The forecast in terms of new accounts assumes that they will experience the usual seasonality, as well as the impact of increased user interest due to a strong content list, which will be partially offset by a complex macroeconomic scenario,” added Damián Vlassich. , Equity Analyst at IOL Investonline.
In its quarterly letter to shareholders, Netflix noted that “our competitors are spending heavily to get subscribers and engagement, but building a large and successful streaming business is hard.” The company estimated that its competitors would end 2022 with combined operating losses of “well over $10 billion,” compared to Netflix’s annual operating profit of between $5 billion and $6 billion.
Source: Ambito
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