Netflix rises after Bank of America says there's 'reacceleration' in mobile app downloads
Netflix is "seeing significant reacceleration" in mobile app downloads in the third quarter of 2019, Bank of America analysts wrote in a note Monday.
Bank of America credited the highly-anticipated release of the third season of "Stranger Things" for helping drive the downloads.Reed Hastings attends Reed Hastings panel during Netflix 'See What's Next' event at Villa Miani on April 18, 2018 in Rome, Italy.is "seeing significant reacceleration" in mobile app downloads in the third quarter of 2019 Bank of America analysts said in a note Monday.
Netflix downloads in the third quarter of 2019 are up 18% year over year, according to the note. In the U.S., downloads are up 6%, while international downloads are up 21%, the analysts wrote., Netflix reported a rare loss in U.S. subscribers while missing analysts expectations for international paid subscriber adds.
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