Netflix Worth More Than $130 Billion Mar 2, 2018 20:25:07 GMT -6
Post by The Ultimate Nullifier on Mar 2, 2018 20:25:07 GMT -6
Netflix Stock Pops to New All-Time High, Company Now Worth More Than $130 Billion
Netflix shares closed up 3.7% on Friday — reaching a new all-time high, as investor bullishness for the subscription-streaming leader’s growth prospects continues unabated, for now.
With the surge, Netflix’s market cap now stands at over $130 billion, putting it within shouting distance of traditional media giants like Disney ($155 billion) and Comcast ($169 billion).
Netflix closed at $301.05 per share, cresting a symbolic $300-per-share threshold. The stock is already up 50% since the start of 2018.
The new high-water mark for Netflix comes a day after U.K. satcaster Sky announced a new agreement with Netflix to integrate the subscription VOD offering into its pay-TV service. Customers with its high-end Sky Q set-top box and service will be able see Netflix titles alongside their regular Sky channels. But Netflix shares actually closed down slightly (-0.8%) on Thursday before rallying Friday.
Earlier this week, Netflix CFO David Wells told investors that the company would continue to invest heavily in content — and said the company expects to have about 700 original TV series worldwide on the service in 2018.
Netflix ended 2017 with 117.6 million streaming members worldwide — up 25% year-over-year — including 54.75 million in the U.S. alone. Analysts (and Netflix’s senior execs) believe it remains poised for strong growth in overseas markets.
Here’s an all-time chart of Netflix’s stock (via Google Finance):