17.06.2024 Issuer Call Redemption Notice

Аватар на автора


Violeta Todorova


Netflix Reports Blockbuster Subscriber Growth

Your capital is at risk if you invest. You could lose all your investment. Please see the full risk warning here.

·       Netflix adds blockbuster 13.1 million subscribers in the fourth quarter.

·       Revenue increased 12.5% beating consensus estimates.

Netflix ended fiscal 2023 with record high subscribers, adding 13.1 million users in the fourth quarter alone, beating estimates of 8.97 million. The year ended with 260 million memberships, an increase of almost 30 million from 2022.

The strong subscriber growth could be attributed to the password-sharing crackdown and the quality of the content, which attracted a large number of viewers. While subscriber gains could remain relatively high, the strong growth from last year could subside in 2024 as the streamer slowly completes its password-sharing crackdown.

The company reported that in the fourth quarter net income increased to $938 million or $2.11 per share from $55 million or $0.12 per share in the same quarter the prior year. The bottom-line missed expectations after three consecutive beats.

Revenue of $8.83 billion increased 12.5% compared to Q4 2022, beating consensus estimates of $8.71 billion. The company attributed the robust top-line growth to its paid subscription-sharing offering which is part of its password-sharing crackdown, recent price changes, and a strong content slate.

Profits for the fiscal 2023 were impressive thanks to the higher membership base and operational discipline. The full year operating margin of 21% in 2023 is up substantially from 18% in 2022. For such a large and mature company, the increase is eye catching.

In addition to the cracker report, the giant streamer projects first quarter 2024 earnings of $4.49 a share, well above analyst’s forecasts of $4.10. Also, the company revised higher its full year 2024 operating margin forecast to 24% from its prior guidance of 22%.


A graph of stock market

Description automatically generated with medium confidence

Source: TradingView

Netflix forecasts revenue for the first quarter of 2024 to rise more than 13% year over year. The company’s ability to renew growth is certainly impressive and exciting for investors. The streamer also flagged further opportunities by continuing to expand its programming slate into live entertainment, gaming, and advertising.

The share price soared 13% post the result registering one of its biggest single day gains. The price is up 245% from its May 2022 low and up 57% over the past twelve months. The price structure and the momentum conditions remain constructive, suggesting that the uptrend is firmly intact.

Although the price may not replicate last year’s gains, given the encouraging fundamentals and technicals, we are of the view that further upside in 2024 is achievable. Therefore, we lift our long-term price target in the range between $640 and $660.

Active traders looking to gain exposure to Netflix may consider Leverage Shares +3x Long Netflix or Leverage Shares -1x Short Netflix.

Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. The views expressed here are of Websim. Leverage Shares in no way endorses these views. If you are unsure about the suitability of an investment, please seek financial advice. View the original at

Your capital is at risk if you invest. You could lose all your investment. Please see the full risk warning here.

Share this:

Related Products:

Related Products:

Related Articles

Fed minutes’ hawkish tone. 2023 winners could be 2024 laggards.
Fed minutes’ hawkish tone. 2023 winners could be 2024 laggards.
Fed minutes’ hawkish tone. 2023 winners could be 2024 laggards.

Required Information

Get the Newsletter

Never miss out on important announcements. Get premium content ahead of the crowd. Enjoy exclusive insights via the newsletter only.

Welcome to Leverage Shares

Terms and Conditions


If you are not classified as an institutional investor, you will be categorised as a private/retail investor. At this time, we cannot send communications directly to private/retail investors. You are welcome to view the contents of this website.

If you are an ‘Institutional investor’, you affirm either that you are a Per Se Professional Client, or that you wish to be treated as an Eligible Counterparty Client, both as defined under the Markets in Financial Instruments Directive, or an equivalent in a jurisdiction outside the European Economic Area.

Risk Warnings

The value of an investment in ETPs may go down as well as up and past performance is not a reliable indicator of future performance. Trading in ETPs may not be suitable for all types of investor as they carry a high degree of risk. You may lose all of your initial investment. Only speculate with money you can afford to lose. Changes in exchange rates may also cause your investment to go up or down in value. Tax laws may be subject to change. Please ensure that you fully understand the risks involved. If in any doubt, please seek independent financial advice. Investors should refer to the section entitled “Risk Factors” in the relevant prospectus for further details of these and other risks associated with an investment in the securities offered by the Issuer.

This website is provided for your general information only and does not constitute investment advice or an offer to sell or the solicitation of an offer to buy any investment.

Nothing on this website is advice on the merits of any product or investment, nothing constitutes investment, legal, tax or any other advice nor is it to be relied on in making an investment decision. Prospective investors should obtain independent investment advice and inform themselves as to applicable legal requirements, exchange control regulations and taxes in their jurisdiction.

This website complies with the regulatory requirements of the United Kingdom. There may be laws in your country of nationality or residence or in the country from which you access this website which restrict the extent to which the website may be made available to you.

United States Visitors

The information provided on this site is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.

Persons accessing this website in the European Economic Area

Access to this site is restricted to Non-U.S. Persons outside the United States within the meaning of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Each person accessing this site, by so doing, acknowledges that: (1) it is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities. None of the funds on this website are registered under the United States Investment Advisers Act of 1940, as amended (the “Advisers Act”).

Exclusion of Liability

Certain documents made available on the website have been prepared and issued by persons other than Leverage Shares Management Company. This includes any Prospectus document. Leverage Shares Management Company is not responsible in any way for the content of any such document. Except in those cases, the information on the website has been given in good faith and every effort has been made to ensure its accuracy. Nevertheless, Leverage Shares Management Company shall not be responsible for loss occasioned as a result of reliance placed on any part of the website and it makes no guarantee as to the accuracy of any information or content on the website. The description of any ETP Security referred to in this website is a general one. The terms and conditions applicable to investors will be set out in the Prospectus, available on the website and should be read prior to making any investment.

Leverage Investment

Leverage Shares exchange-traded products (ETPs) provide leveraged exposure and are only suitable for experienced investors with knowledge of the risks and potential benefits of leveraged investment strategies.


Leverage Shares Management Company may collect data about your computer, including, where available, your IP address, operating system and browser type, for system administration and other similar purposes (click here for more information). These are statistical data about users’ browsing actions and patterns, and they do not identify any individual user of the website. This is achieved by the use of cookies. A cookie is a small file of letters and numbers that is put on your computer if you agree to accept it. By clicking ‘I agree’ below, you are consenting to the use of cookies as described here. These cookies allow you to be distinguished from other users of the website, which helps Leverage Shares Company provide you with a better experience when you browse the website and also allows the website to be improved from time to time. Please note that you can adjust your browser settings to delete or block cookies, but you may not be able to access parts of our website without them.

This website is maintained by Leverage Shares Management Company, which is a limited liability company and is incorporated in Ireland with registered offices at 2 Grand Canal Square, Grand Canal Harbour, Dublin 2. 

By clicking you agree to the Terms and Conditions displayed.