Netflix shares, which are the subject of great debate on Wall Street, rose more than 7% Thursday in the wake of a concession by Comcast earlier in the day that the media giant will continue to lose subscribers.
Establishing a new six-month high, Netflix’s stock finished at $349.60 on nearly triple its normal trading volume.
Many Wall Street investors and analysts interpreted Comcast’s revelations during its fourth-quarter earning call before the market opened Thursday as a boost to Netflix. The streaming giant has been seen as somewhat vulnerable despite its sizable lead, as more rivals enter the streaming arena. Comcast’s streaming entry, Peacock, launches in April and blends advertising, pay-tv and direct subscription models. Disney and Apple have joined the fray, with WarnerMedia following in May with HBO Max.
Comcast CEO Brian Roberts expressed great optimism about Peacock’s potential to lift the entire business. But the subscriber losses in the fourth quarter,...
Establishing a new six-month high, Netflix’s stock finished at $349.60 on nearly triple its normal trading volume.
Many Wall Street investors and analysts interpreted Comcast’s revelations during its fourth-quarter earning call before the market opened Thursday as a boost to Netflix. The streaming giant has been seen as somewhat vulnerable despite its sizable lead, as more rivals enter the streaming arena. Comcast’s streaming entry, Peacock, launches in April and blends advertising, pay-tv and direct subscription models. Disney and Apple have joined the fray, with WarnerMedia following in May with HBO Max.
Comcast CEO Brian Roberts expressed great optimism about Peacock’s potential to lift the entire business. But the subscriber losses in the fourth quarter,...
- 1/23/2020
- by Dade Hayes
- Deadline Film + TV
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