Netflix shareholders sue over disclosures of subscriber decline

  • Netflix's (NASDAQ:NFLX) unusual first-quarter subscriber loss led to a tanking in the stock; now comes the shareholder lawsuit over the drop and how the company informed investors about its struggles.
  • A Texas-based investment trust has sued in California, accusing Netflix (NFLX) of failing to disclose that growth was slowing and that the company was losing net subscribers - and is seeking damages over the drop in Netflix's (NFLX) share price.
  • Netflix stock (NFLX) is down 67.4 percent; year-to-date. Its shares have plunged by 44 percent; since the company's disappointing April 19 earnings report.
  • The suit names co-CEOs Reed Hastings and Ted Sarandos along with Chief Financial Officer Spencer Neumann, and is seeking damages for investors who traded the stock between Oct. 19, 2021, and April 19, 2022.
  • Despite Netflix's (NFLX) recent subscriber debacle, the company's programming remains popular, with its hit series Bridgerton dominating the latest streaming viewership numbers from Nielsen (NLSN).

    Over the current book year the total revenu from the company based in will be 38.57 billion USD (consensus estimates). The expected revenue would be a record for the company. This is hugely more than 2022's revenue of 33.72 billion USD.

    Historical revenues and results NetFlix plus estimates 2023

    koersdata

    NetFlix Headquarters Silicon Valley ©

    NetFlix
    NetFlix


    The analysts expect for 2023 a net profit of 7.52 billion USD. For this year the majority of the analysts, consulted by press agency Thomson Reuters, expects a profit per share of 17.12 USD. Based on this the price/earnings-ratio is 32.39.

    Analysts don't expect the company to pay a dividend. The average dividend yield of the entertainment companies equals an attractive3.17 percent.

    Based on the current number of shares NetFlix 's market capitalization equals 246.95 billion USD.

    On Friday the stock closed at 554.52 USD.

    Historical stock prices NetFlix

    stock graphs netflix

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