On April 21, Netflix reported exceedingly better-than-expected net new subscribers in their fiscal 1Q20 as COVID-19 induced lockdowns confined people to their homes and spurred demand for their streaming content. Well-timed hits like “Tiger King” and “Ozark” kept Netflix relevant on social media as many shelter-in-place ordinances began, and all told Netflix signed up 15.7M new subscribers in the quarter.
Netflix guided fiscal 2Q20 net new subscribers at 7.5 million, but given the considerable uncertainty as to when lockdowns will officially be lifted, they admit the figure is “mostly guess work.” After adjusting their models post-earnings, equity analysts are now forecasting Netflix will add 7.7M subs in 2Q20 and about 35.2M subscribers by the end of 2020, according to Visible Alpha consensus.
Learn more about the ongoing revisions across every sector here.
This content was created using Visible Alpha Insights.
Visible Alpha Insights is an investment research technology platform that provides instant access to deep forecast data and unique analytics on thousands of companies across the globe. This granular consensus data is easily incorporated into the workflows of investment professionals, investor relations teams and the media to quickly understand the sell-side view on a company at a level of granularity, timeliness and interactivity that has never before been possible.