The video-streaming giant is cracking down on the ability of its users to share subscriptions across locations, a move that analysts say could push millions of borrowers to spring for their own plans.
The video-streaming giant ison the ability of its users to share subscriptions across locations, a move that analysts say could push millions of borrowers to spring for their own plans.
Netflix shares already have more than doubled off a 2022 low and are up 18% off a low hit last month. Revenue is expected to increase 8.6% this fiscal year before accelerating to almost 12% growth in fiscal 2024. It rose 6.5% last year. Bank of America Corp. expects subscriber results for the US and Canada “will be significantly stronger than current consensus,” citing an analysis of third-party data that it sees as “an encouraging sign that NFLX’s recent crackdown on password sharing is driving new subs to the service.”The company reports first-quarter results April 18, and analysts expect it will add 2.3 million subscribers, according to data compiled by Bloomberg. That will bring total paid memberships to 233 million.
In a measure of how Wall Street is viewing its prospects, Moody’s Investors Service last month upgraded Netflix’s senior unsecured notes to investment grade, up from junk status.
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