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Netflix Adds 15.8 Million Subscribers In First Quarter

April 22, 2020

Netflix reported net subscriber additions of 15.8 million between January and March, but was slightly down in pre-market trading on analyst fears the subscription surge was a blip.

Although the stock initially shot up 10% in after-hours trading, it is currently valued slightly below its price. There is consensus among analysts that Netflix is one of the main (and few) beneficiaries of the pandemic, but there is concern that the company will not be able to keep up the momentum. “To be more bullish on shares at this valuation level we would have to be more comfortable with the expectation of adds growing above trend for the remainder of the year,” Rosenblatt analyst Bernie McTernan said in a Wednesday note.

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