Netflix (NFLX) stock is dropping 5% today after CFO Spence Neumann indicated that the company is not interested in streaming a large number of sporting events in the “near term.”
A home theater with family members enjoying streaming content together.
Pouring Water on the Large-Scale Streaming of Sports
Speaking yesterday afternoon to a Morgan Stanley analyst, Neumann said that NFLX plans to focus on many types of “big (events),” but is not looking to show “full seasons of big sports.” He added that showing a large number of games is “not something that’s in our….near-term horizon or something we….see a clear path to.”
Other Statements by the CFO
Neumann reported that NFLX believes that it can generate “healthy revenue and profit growth,” while its expenses are poised to increase more slowly than its sales “for many, many years to come.”
The CFO added that the company had “made great progress” with growing its ad revenue and is “super pleased” with the progress of its ads business.
The Recent Price Action of NFLX Stock
In the last month, the shares have dropped 10% while they are flat in the last three months. So far in 2025, they have climbed 3%.
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This article is originally published at Insider Monkey.
