Fast Money Blog- 7/21/23

On Wednesday, July 19th, Netflix, Inc. (NFLX) released its Q2 2023 earnings and its new subscriber growth blew Wall Street expectations out of the water. 

Strengthened by their crackdown on password sharing, Netflix added 5.9 million new paid subscribers in the quarter, bringing its total to 238 million subscribers, up 8% year-over-year.

The company posted quarterly top-line revenue of $8.2 billion, a year-over-year increase of nearly 3%. This increase was impart due to the creation of the new family subscription platform.  

I’d expect to see Netflix’s top-line revenue radically increase as they introduce programatic TV ads to their platform over the next 6 months.

While I wouldn’t recommend Netflix stock as part of the Wealthy Investor Program, the company’s revenue growth is amazing.  

However we are in the middle of earnings season and I expect our favorite Wealthy Investor stocks to perform strongly.

Good News To Come!

Stay Patient! Stay Positive!

Tyrone Jackson

The Wealthy Investor