Neil Cybart 10/19/22 Neil Cybart 10/19/22

Netflix 3Q22 Earnings, Netflix Wants a New Narrative, Netflix's ARPU Mission (Daily Update)

Hello everyone.

We are going to talk more about the iPad line tomorrow. There are a growing number of questions as to what Apple announced (and didn’t announce) yesterday regarding the iPad. We will go over where I think Apple may take the iPad line from here.

Today’s update will be dedicated to Netflix earnings. As the company with the most paid subs in video land, at least until Disney provides its updated subscriber total, Netflix results can provide insights as to how the paid video industry is evolving.

Let’s jump right in.

Netflix 3Q22 Earnings

Netflix successfully played Wall Street's expectations game. The 3Q22 paid subscriber guidance that management gave three months ago was very weak. Management was essentially calling for no subscriber growth on a global basis (+1.0M) despite having a strong quarter from a video content perspective.

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