With Netflix slated to release its second-quarter results on July 17, analysts are already chiming in with their predictions, with two influential stock pickers expecting strong subscriber growth for the SVOD pioneer.
In separate reports this week, UBS Securities media analyst Doug Mitchelson and Morgan Stanley media maven Ben Swinburne wrote they expectNetflix’s domestic subscriber growth to rebound to 600,000 or more additions in Q2, a turnaround from the 162,000 additions in the same period last year.
Last year’s Q2 was marred by what Netflix said were unfavorable press reports that focused on an expected price increase. Last year, Netflix “un-grandfathered” early subscribers, which raised charges for many long-time customers by $2 per month.
With that behind it, both Mitchelson and Swinburne expect a return to robust growth rates.