Netflix Stock: Q3 Earnings Soar Despite Minor Share Dip

Netflix demonstrated robust financial performance in the third quarter of 2024, with revenue climbing to $9.78 billion, marking a significant increase from $8.54 billion in the previous year's corresponding period. The streaming giant's earnings per share showed impressive growth, jumping from $3.80 to $5.52, underlining the company's strong business trajectory. Despite these encouraging results, the stock experienced a slight decline of 0.2% on NASDAQ, trading at $877.87. This current price positions the stock approximately 7.26% below its recent 52-week high of $941.61.

Analyst Outlook and Market Position

Market experts maintain an optimistic stance on Netflix's future performance, projecting annual earnings of $19.80 per share for 2024. Goldman Sachs recently revised its price target upward from $750 to $850, while maintaining a neutral rating on the stock. The company's market capitalization stands at 365.0 billion euros, with investors eagerly anticipating the next quarterly results scheduled for January 21, 2025. The average analyst price target currently sits at $795.71, reflecting varied expectations about the stock's potential movement.