Netflix, Inc. (NASDAQ-NFLX) is an American pay-per-view online movie provider. It is currently available in 190 countries around the world – in North and South America, Europe, Africa, Australia and Asia. Since January 2016, it is also available in the Czech Republic and Slovakia. The company was founded in 1997 and is headquartered in Los Gatos, California. The company began providing services to subscribers in 1999. Initially, Netflix provided movies only on DVDs, which it mailed within the US. Ten years later, the company began providing streaming content over the Internet. The company employs 13,000 tribal workers.
The company recently released its second quarter 2024 earnings results. Netflix, Inc. total revenue increased 16.76% to $9.559 billion. The company’s operating income increased 42.45% to $2.603 billion. After deducting all expenses, the company’s net income was 44.34% higher at $2.147 billion. The company has total assets of $49.099 billion with equity of $22.113 billion. With these earnings results that beat analysts’ and multinational investment corporations’ estimates, the stock price can be expected to rise. 36 Wall Street analysts have set an average target price of $709.48 per share for Netflix, Inc. (NASDAQ-NFLX) stock for the short to medium term investment horizon.
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