Netflix (NFLX) managed to break out while its peers, including Paramount Global (PARA), Sony (SONY), Comcast (CMCSA), and Warner Bros Discovery (WBD) did not move.
In the last quarter, Netflix posted strong results. Revenue increased by 15% Y/Y to $9.82 billion. It expects similar growth levels for this year. Operating margins are healthy at 30%, up from 22% last year. Netflix attributed the results to user growth. Memberships increased by 5.07 million, up by 14.4% Y/Y. Customers are spending more time (by hours be member) compared to last year.
Netflix is in its second year of an advertising model. The lower subscription rate attracts more customers. For example, more than half of its sign-ups in countries offering ad-based services.
In the mining sector, Freeport-McMoRan (FCX) peaked at over $52 in September. In the third quarter, revenue increased by 16.7% Y/Y to $6.79 billion