Netflix, Inc. (NASDAQ-NFLX) is an American pay-per-view online movie provider. It is currently available in 190 countries around the world – in North and South America, Europe, Africa, Australia and Asia. Since January 2016, it is also available in the Czech Republic and Slovakia. The company was founded in 1997 and is headquartered in Los Gatos, California. The company began providing services to subscribers in 1999. Initially, Netflix provided movies only on DVDs, which it mailed within the US. Ten years later, the company began providing streaming content over the Internet. The company employs 13,000 tribal workers.
Shares of Netflix (NASDAQ-NFLX) hit record highs after news that the Tyson-Paul fight attracted 108 million viewers. The company says the fight was the most streamed global sporting event of all time. Jake Paul, 27, defeated Mike Tyson, 58, in a one-of-a-kind fight. According to Forbes magazine, Tyson earned $20 million and the winner of the fight, Paul, earned $40 million. The main event was also the fight between Katie Taylor and Amanda Serrano, which was the most-watched professional women’s sporting event in U.S. history, seen by 74 million viewers worldwide. Some analysts believe that this fight between Poul and Tyson served as an appetizer for Netflix’s upcoming Christmas Eve NFL game , when it will be Netflix’s first opportunity to stream live games, one of the four most popular American sports. Netflix stock is up 83% over the past 12 months .
Netflix Inc. also recently released its financial results for the third quarter of 2024. The company saw its subscribers increase by 5 million in the third quarter to a current 282.7 million subscribers. The company reported revenues of $9.83 billion with an operating profit of $2.91 billion. Operating profit recorded a 30% year-on-year increase. The company also said that it expects further growth in its subscribers in Q4 2024 and also expects its operating margin to increase by another 27 percent. Due to the Q3 2024 earnings results and the growing popularity of Netflix’s streaming content, the stock price is expected to rise. 36 analysts from Tipranks.com have set an average target price of $774.58 per share for Netflix, Inc (NASDAQ-NFLX) stock for the short to medium term investment horizon.
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