Netflix might add more subscribers than expected in the third quarter
By Trey Williams, MarketWatch
Netflix Chief Content Officer Ted Sarandos says company will likely spend $7 billion on content in 2018
Netflix shares were up nearly 4% on Wednesday, after UBS analyst Doug Mitchelson raised his 12-month price target on the company to $225 from $190, saying analysis suggests that the streaming giant's subscriber growth will be more than previously expected.
Mitchelson said he expects the company's second-quarter growth momentum to continue through the third quarter. He forecasts Netflix will report domestic net adds of 850,000 and international adds of 3.95 million.
The FactSet consensus for domestic subscriber additions is 796,000, and for international adds is 3.64 million.
Netflix (NFLX) will report third-quarter earnings after the market closes on Oct. 16.
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