Netflix has seen skyrocketing success in 2020, and the streaming heavyweight is looking to keep it going next week, when it kicks off tech earnings season with its Q3 report.
So far this year, Netflix has seen its stock price soar 68%, easily eclipsing both its own and Wall Street’s subscriber projections during the first half of the year. To put it into perspective: Netflix added about 26 million global customers during Q1 and Q2, only two million less than it did in all of 2019. Heading into its Q3 report next Tuesday, Netflix sits at 192.9 million subscribers overall.
While the coronavirus pandemic has decimated the cinema business and has giants like AMC and Regal fighting for survival, the pandemic has helped spur Netflix’s massive growth. How long that trend continues is open for debate among analysts, however.
Pivotal Research analyst Jeffrey Wlodarczak, in a recent note to clients, said he’s bullish on Netflix’s continued growth. Wlodarczak put a $6 ...
