Fast Money Blog- 1/20/23

Great News!  Our stock market is slowly turning bullish and rewarding positive earnings.

On Thursday, January 19th Netflix, Inc. (NFLX) released its Q4 2022 earnings. The company posted top line quarterly revenue of $7.85 billion, an increase of 1.9% year-over-year.  But what really had Wall Street excited was the 7.66 million net new subscribers that Netflix added in Q4.

For Fiscal year 2022, the company finished with 231million paid memberships and generated $32 billion of revenue.
Netflix also announced that founder and co-CEO Reed Hastings would be moving to the role of executive chairman.  Former operating officer Greg Peters will be joining Ted Sarandos as co-CEO.

Looking ahead the company expects to see great results from their newly launched, lower priced ad-supported plan and from their paid sharing plan.

Wall Street’s positive reaction to Netflix Q4 earnings indicates that our market is not only retracing but is also bullish.

Please note that major S&P components such as Microsoft Corporation (MSFT), Visa, Inc. (V) Mastercard Incorporated (MA) and Apple, Inc. (AAPL) are all scheduled to report their earnings next week.

In the end I believe that 2023 will go down as the year of the great retracement.

Stay positive and watch it all happen!

Tyrone Jackson, The Wealthy Investor