Netflix stock price soared 7.12% to $338.27 on the post-market. The trading data on NASDAQ evidence this.
Investors began buying the securities after the release of the report for the fourth quarter of 2022. According to its results, the number of paid subscribers to the platforms reached 230.75 million people, which is 7.66 million more than in the third quarter. That was significantly better than analysts’ forecasts, which had expected to add 4.57 million new paid subscribers, CNBC said, citing data from streetaccount.
Netflix stock chart
The company’s revenues rose 1.9% from the fourth quarter 2021 level to $7.85 billion, which is in line with the estimates of analysts surveyed by Refinitiv.
Net income due to losses on euro-denominated bonds decreased 11 times compared to the same period of the previous year to $55 million. Earnings per share (EPS) were $0.12 compared to $1.33 a year earlier. EPS, according to Refinitiv, was expected to be $0.45.
Operating profit was $550 million compared to $632 million a year earlier. Operating margin was estimated at 7%, while in the fourth quarter of 2021 it was 8.2%. At the end of the year, operating margins are typically lower due to higher content costs.
In the first quarter of this year, Netflix expects to grow revenue by 3.9% to $8.17 billion and generate net income of $1.28 billion. Earnings per share are projected to be $2.82 and operating margin of 19.9%, according to the company. The platform also intends to step up its fight against account password transfers without payment this quarter.
Earlier, we reported that JPMorgan’s Q4 net income rose 6% and revenue rose 18%.
Microsoft announces new multibillion-dollar investment in ChatGPT OpenAI stock
Microsoft has announced a new multi-year investment in artificial intelligence (AI) chatbot developer ChatGPT, OpenAI. Microsoft did not name a specific investment amount; a week earlier; Bloomberg and Semafor reported that the company was in talks to invest up to $10 billion in the ChatGPT OpenAI stock.
ChatGPT OpenAI Microsoft
Microsoft’s investment will help both companies scale supercomputers and create new capabilities based on artificial intelligence, the report said.
Microsoft is working to add ChatGPT artificial intelligence to its search engine, Bing, so that it can provide concrete answers to queries rather than simply providing links to pages on the Web. Plus, The Information found out that Microsoft is thinking about adding ChatGPT’s text-writing and editing capabilities to its office applications — Word Word, PowerPoint presentation editor and Outlook email service.
ChatGPT is able to answer users’ questions, give explanations, create texts (e.g., writing poems and stories or drafting legal documents), while imitating the speech style of a person without disabilities. OpenAI has also developed AI game software that can beat people at video games such as Dota 2, and the AI image generator Dall-E.
ChatGPT was launched in late November 2022. OpenAI was founded as a nonprofit organization in 2015 to conduct research on artificial intelligence. OpenAI’s founders include billionaire Ilon Musk, LinkedIn co-founder Reed Hoffman, and technology investor Sam Altman, who now runs the company. According to CNBC, the founding investor group then pledged to invest more than $1 billion in the company. Musk resigned from the board in February 2018, but remained an investor.
The company was valued at $14 billion in 2021. In January 2023, OpenAI was in talks with investors to sell its stock based on a valuation of the entire company of about $29 billion. The Wall Street Journal wrote, citing knowledgeable sources. Khosla Ventures, Sequoia Capital, Tiger Global, Y Combinator and Bedrock Capital are among the co-owners of the company.
Earlier, we reported that Apple sharply reduced the price of the iPhone 14 in China to increase sales.
Apple dramatically lowered the price of iPhone 14 in China to boost sales. Will Apple drop the price of iPhones in other markets?
Apple has slashed prices on all smartphones of its iPhone 14 lineup in China to spur sales in the country’s market. It is reported by the portal My Drivers. Will Apple drop the price of iPhones in other markets?
Traditionally, we always see Apple iPhone price drop after new release. It is known that the price of iPhone 14 gadgets has been adjusted throughout China. At the same time, on some sites, the prices of Apple smartphones have dropped by 1000 yuan (about $150). According to sources, they will remain until the Chinese New Year, which will begin on January 22.
As My Drivers notes, Trend Force analysts previously predicted a decline in iPhone sales in the first quarter of 2023 to 47 million units, down 22 percent from the same period last year. This is not the first time Apple has lowered prices in many markets to stimulate and adjust sales of its smartphones.
Earlier there was news that Apple was “paying back” for its financial success because of the bet on developing all production facilities in China in order to increase profits. According to the Financial Times, now the Cupertino corporation will have to urgently diversify its factories to minimize the damage.
Earlier, we reported that JPMorgan advised investors to get rid of U.S. stocks.
JPM recommendations: investors should get rid of U.S. stocks
JPM recommendations: a group of JPMorgan analysts headed by Marko Kolanovic believes that investors should sell U.S. stocks and take profits now, because the current market rally will soon come to naught, writes Business Insider.
They said the stock market will face several challenges this year due to Fed policies and weak corporate earnings. The group of analysts said the risks of a recession and excessive monetary tightening remained high.
JPMorgan stock recommendations – what should investors do?
They said in a research note that all the positive catalysts that drove the stock market higher have gone unnoticed, while companies are reporting weaker earnings than investors expected.
“We remain cautious on risky assets because the risks of recession and over-tightening remain high, and we think there is a lot of good news in terms of slowing inflation or soft landing potential in stock prices as it is,” Colanovich said.
And even if inflation continues to decline, as it has for several months, ongoing labor market tensions could take a hit that lowers corporate profits and forces the Fed to continue tightening monetary policy.
Earlier, we reported that U.S. stock indexes were down 0.8-1%.
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