THB #73: Netflix Is Chilled
Why are these men so happy?
When Netflix Masters of the Universe Reed Hastings, Ted Sarandos, and Spencer Neumann released their quarterly investors video interview 2 hours after their quarterly results were released, they came off as giddy. (The images are from the first appearance of each man yesterday.) The stock had already dropped 20%.
They argued, in their digital bubble, that the quarter was pretty good. Reed Hastings scoffed at any worries about missing their sub growth projection for the quarter, “8.3 million versus 8.5 million, I mean...”
I can’t really argue with that. Except that in the years past, had they been over projection by .2 million, instead of under, Wall St would reward the stock handsomely.
What happened yesterday and continues today is that the facts of perspective that some of us have been writing about for years now came home to roost on the news of a very normal-looking Netflix quarter.
Last quarter announcement, Q3 on Oct 19, 2021, the stock dropped 14 point…
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