Netflix: Awaiting The Rebound Story


  • We continue to be bearish on Netflix.
  • While we’re constructive on Netflix’s 7.66M added subscribers, we still don’t expect the subscriber growth to meaningfully boost revenue in the near term.
  • We also expect Netflix’s new ad-supported service, included for the first time this quarter, will be pressured by weaker ad spending in 1H23.
  • We’re bullish on the long-term rebound story of Netflix but believe the stock will dip further in the near term due to macro headwinds.



Netflix (NASDAQ:NFLX) stock jumped nearly 7% following its 4Q22 earnings report. Despite the 40% surprise in added subscribers reaching 7.66M compared to expectations of 4.57M, we continue to be bearish on the stock.

Netflix has had a rough


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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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