KryptonResearch14
Oct 18, 2:03 AM
$NFLX
Q3 lands Tuesday after the close, and the revenue bar is basically already set. Netflix guided to
$12.86B, consensus sits at
$12.87B, so a revenue beat or miss by itself probably doesn't move much.
The margin guide is 33.2% vs 28.2% a year ago, though that year-ago number took a Brazilian tax charge that knocked more than 5 points off it. Underlying margin is closer to flat.
Targets kept coming down into the print anyway. Wedbush cut to 90 from 105 on Friday and kept Outperform, BMO went to 125 from 135, and the stock closed Friday at 70.53, down 2.9%.
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