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Takeaways
- Netflix shares jumped Tuesday after a report company executives laid out ambitious targets at a business review meeting last month.
- The Wall Street Journal reported on Monday that the streaming giant plans to double its revenue and reach a $1 trillion market capitalization by 2030.
- Netflix will report its first-quarter results on Thursday, after the market closes.
Netflix (NLFX), a streaming service, saw its shares jump Tuesday following a report that executives at the company had laid out ambitious goals during a recent business review meeting.
The Wall Street Journal, citing sources familiar with the situation, reported Monday that executives at the streaming giant said they aimed to double Netflix’s $39 billion revenue from last year. The global ad sales goal is $9 billion by 2030.
The report also stated that the streaming giant aims to reach a capitalization of $1 trillion in 2030, up from $419.2billion. The only U.S. companies with a market cap above $1 trillion today include Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOGL), Amazon (AMZN), Meta (META), and Berkshire Hathaway (BRK.A, BRK.B).
Netflix did not respond immediately to a comment request.
Shares were up more than 5% in recent trading Tuesday, leading gains on the S&P 500. Over the past year, they’ve gained about 60% of their original value. (Read Investopedia’s live coverage of today’s market action here.)
Morgan Stanley analysts last week named Netflix as a “top pick”, arguing that the company was well-positioned to survive the current tariff landscape. Analysts said that the streaming giant’s core subscription business has shown “momentum”. This momentum lowers the risk for the company even if the advertising industry struggles amid rising tensions.
Netflix will report its first quarter results after the close of the market on Thursday.
