US stocks spiked overnight following great news from Netflix. This is how CNBC reported it: “Netflix shares surged more than 10% after the streamer said its total subscriber count hit an all-time high of 260.8 million. Revenue topped analysts’ estimates, as did current-quarter earnings guidance.
“The earnings report is a pretty decent tailwind,’ said Charlie Ripley, senior strategist at Allianz Investment Management. More broadly, ‘people thought things were fairly balanced, or maybe even positioning for more downside risks, as growth in the economy or activity in the economy continues to decline. But what we’ve kind of seen is things have been more resilient’.”
Checkout my interview with the founder of Netflix, Marc Randolph, which I did a few years ago. I loved the title of his book That Will NEVER Work.
He certainly has proved his doubters wrong!
