Why Netflix Stock Rocketed Higher Wednesday Morning
Shares of (NASDAQ: NFLX) charged sharply higher on Wednesday, surging as much as 14.9%. As of 10:58 a.m. ET, the stock was still up 11.1%.
The catalyst that propelled the streaming pioneer higher was the company's financial results, which were much better than investors had anticipated.
For the fourth quarter, Netflix reported revenue that grew 16% to $10.2 billion. The company also expanded its operating margin, which increased by 530 basis points to 22.2%. This resulted in diluted earnings per share (EPS) that soared 102% to of $4.27. It also marked the first time Netflix generated $10 billion in operating income in a single quarter.
Source Fool.com
Netflix Inc. Stock
€80.48
0.830%
The stock is one of the favorites of our community with 123 Buy predictions and 2 Sell predictions.
With a target price of 112 € there is a positive potential of 39.17% for Netflix Inc. compared to the current price of 80.48 €.
