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Netflix logs worst drop since July as analysts peg subscriber reporting pivot as culprit [Seeking Alpha]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
The company beat financial expectations with near-15% growth in revenue, ahead of the Street and well ahead of its own forecasts, thanks in large part to another surge in membership that outpaced expectations. Meanwhile, the company's ad-supported service is showing rapid growth. Some analysts waded through the positive results looking for trouble in the subscriber outlook (Netflix guided to slower growth for what is a traditionally seasonally weak quarter), while others pointed to the import of Netflix's decision to phase out its reporting of subscriber numbers entirely. The streaming pioneer stopped offering guidance on its subscriber figures before, and now plans to stop reporting the number entirely starting in the first quarter of 2025. That key decision "cements" the argument that Netflix is no longer a growth stock , Seeking Alpha analyst and Investing Group leader Michael Wiggins de Oliveira wrote. "For investors, who were previously accustomed to gauging Netflix's pros
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