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Netflix (NFLX) Expands Portfolio With New Italian Content
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Netflix (NFLX - Free Report) is having a steady run in 2023, with shares rising 28.8% year to date compared with the Zacks Consumer Discretionary sector’s increase of 4.6%. The upside can be attributed to an expanding subscriber base and robust content offerings.
Netflix continues to bolster its international content portfolio. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages.
Netflix recently announced four captivating new projects, including Il treno dei bambini, an in-depth exploration of postwar Italy and Fabbricante di lacrime, based on a popular book. Additionally, two fresh series, Storia della mia famiglia and Adorazione, provide deep explorations of intricate family dynamics and young adult experiences.
Expanding Portfolio Aids Growth
Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.
Netflix is expanding its international content library with the addition of German Originals like Dear Child and K-dramas, including Time Called You and Destined With You.
While Dear Child is placed second in the weekly Top 10 Non-English TV charts with 15.4 million views, Destined With You and Time Called You is ranked second and fourth with 2 million and 3 million views, respectively.
This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) .
Shares of Apple and Amazon have returned 34.5% and 53.7%, respectively, on a year-to-date basis. Disney’s shares have declined 6.5%.
For the third quarter of 2023, Netflix forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.
The Zacks Consensus Estimate for Netflix's third-quarter revenue is pegged at $8.53 billion, indicating a 7.59% year-over-year growth. The consensus mark for earnings increased by a penny in the past 30 days to $3.49 per share.
Image: Bigstock
Netflix (NFLX) Expands Portfolio With New Italian Content
Netflix (NFLX - Free Report) is having a steady run in 2023, with shares rising 28.8% year to date compared with the Zacks Consumer Discretionary sector’s increase of 4.6%. The upside can be attributed to an expanding subscriber base and robust content offerings.
Netflix continues to bolster its international content portfolio. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages.
Netflix recently announced four captivating new projects, including Il treno dei bambini, an in-depth exploration of postwar Italy and Fabbricante di lacrime, based on a popular book. Additionally, two fresh series, Storia della mia famiglia and Adorazione, provide deep explorations of intricate family dynamics and young adult experiences.
Expanding Portfolio Aids Growth
Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.
Netflix is expanding its international content library with the addition of German Originals like Dear Child and K-dramas, including Time Called You and Destined With You.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
While Dear Child is placed second in the weekly Top 10 Non-English TV charts with 15.4 million views, Destined With You and Time Called You is ranked second and fourth with 2 million and 3 million views, respectively.
This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) .
Shares of Apple and Amazon have returned 34.5% and 53.7%, respectively, on a year-to-date basis. Disney’s shares have declined 6.5%.
For the third quarter of 2023, Netflix forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.
The Zacks Consensus Estimate for Netflix's third-quarter revenue is pegged at $8.53 billion, indicating a 7.59% year-over-year growth. The consensus mark for earnings increased by a penny in the past 30 days to $3.49 per share.
Currently, Netflix has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.