Netflix, Inc. (NASDAQ:NFLX) has been “hitting on all cylinders,” and the company has benefited from letting consumers save money on its service, Jason Snipe, who owns NFLX, said on CNBC yesterday.
A frequent guest on CNBC, Snipe is the Founder and Chief Investment Officer of Odyssey Capital.
Strong Q1 Results and a Beneficiary of Consumers “Trading Down”
Netflix, Inc. reported ” really good” Q1 results as its earnings per share jumped 25% versus the same period a year earlier, while its revenue advanced 12% YOY, Snipe reported.
And Netflix, Inc. has enabled consumers to save almost $20 per month on the streaming service by trading down to its ad tier, the investor noted. This has been a “huge winner” for the company, he said.
Snipe’s Bottom Line on Netflix, Inc. (NASDAQ:NFLX)
“I continue to like this name going forward,” the investor concluded.
The Recent Price Action of NFLX Stock
In the last month, the shares have climbed 14%, while they are also up 14% in the last three months.
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This article is originally published at Insider Monkey.
