Netflix is cutting about 1,000 employees, following in the footsteps of other major media companies. The cuts impact staffers on the product, tech, and HR teams, a person familiar with the move said.
The job cuts affect about 1,000 positions and come as the company struggles with slowing growth.
Skydance (NYSE:SKYD) stock is sinking sharply in morning trading as its shares begin changing hands without the right to a recently issued warrant. The drop looks dramatic on a quote screen.
Netflix (NFLX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Netflix faces significant price declines, underperforming the S&P 500 and its peers year-to-date, with a 25% YTD drop and 50% decline over 15 months. Despite consistent growth in net income and free cash flow, NFLX's forward P/E ratio has fallen below 20, reflecting diminished growth expectations and analyst downgrades. Tax loss selling in November poses a near-term headwind, as NFLX is a prime candidate due to its underperformance amid a strong market.
Netflix is planning what could be its largest round of layoffs in four years, according to media reports.
Recently, Zacks.com users have been paying close attention to Netflix (NFLX). This makes it worthwhile to examine what the stock has in store.
AWS CEO Matt Garman says Amazon needs to be more "vocal" in how it talks about data centers. He said the tech giant should focus on how data centers support everyday services like watching Netflix.
Netflix bulls keep pointing to a cheap multiple and record buybacks, but the real question is whether those arguments can survive two more quarters of rising content costs and slipping viewer engagement.
Buyers are stepping back into Skydance (NYSE:SKYD) stock after the company's weak debut and a second losing session on the New York Stock Exchange. Skydance stock is at $9.
Netflix will release its Q3 earnings on October 20. Ahead of the release, shares are not far off their 52-week lows, having declined over 40% in the past year. With the current earnings multiple of about 19x more than 40% below historical averages, I see opportunity for upside in the stock.
Netflix shares have dropped 26% this year even as revenue keeps climbing, and a largely overlooked segment of its business could be the catalyst that catches investors off guard.