Netflix stock rose nearly 4% Tuesday — the biggest move on an otherwise sleepy day for media and technology shares — after investors absorbed newly released global subscriber data. The …
nearly three years’ worth of financial results, broken out by four global regions: the U.S. and Canada; Europe, the Middle East and Africa; Latin America and Asia-Pacific. The takeaway, as several Wall Street analysts noted Tuesday, was a strong sense of theU.S. subscriber levels have flattened of late, prompting a few Wall Street media and tech watchers to wave a caution flag, especially with Disney, Apple, WarnerMedia and NBCUniversal now entering the streaming arena with major new offerings.
Michael Morris, an analyst with Guggenheim, also has a “buy” on Netflix shares. In a note to clients on Tuesday, he indicated several reasons for “value creation optimism,” among them rising broadband penetration rates in some developing parts of the world.
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