Netflix (NFLX) stock has surged to a different all-time high as tech rallies after Donald Trump clinched victory over Kamala Harris within the presidential election.
The stock is currently trading above $790 a share and has climbed greater than 60% because the start of the 12 months, with 10% gains over the past month — far outpacing broader markets.
The moves higher extend beyond the recent Trump-fueled rally, nonetheless, as Netflix stands out amongst a listing of battered media sector names.
The streamer has added greater than 50 million paying subscribers since launching its password crackdown in May 2023. Its projected full-year operating margins are expected to hit 27%, with management hinting the corporate has the potential to eventually secure margins much like broadcast networks, which historically have been within the range of 40% to 50%.
And in the primary three quarters of 2024, Netflix pulled in roughly $6.9 billion in net income. Its competitors aren’t even close.
Disney (DIS) and Paramount Global (PARA) just reported their first quarter of profits of their respective streaming businesses earlier this summer. A shift for the industry, yes, but not a cure-all for the issues which have plagued traditional media, with Comcast (CMCSA) essentially the most recent company to weigh spinning off its cable networks.
“Netflix is clearly running away with the ball and the media-based streaming corporations are struggling to even get on the sphere,” Barton Crockett, managing director at Rosenblatt Securities, previously told Yahoo Finance.