"Shark Tank" investor and Dallas Mavericks proprietor Mark Cuban continues to be a giant Netflix bull after its weak steering and subscriber miss."
“Shark Tank” investor and Dallas Mavericks proprietor Mark Cuban continues to be a giant Netflix bull after its weak steering and subscriber miss.
“I have never offered any shares and I am nonetheless very bullish on it,” Cuban mentioned on CNBC’s “Halftime Report” Wednesday. “They all the time supply weak steering and it is all the time been the dialogue the day after earnings … All of the traits are going of their favor, extra so than their opponents.”
Netflix reported fourth-quarter outcomes on Tuesday after the bell. The corporate beat on the highest and backside line, however gave disappointing steering and posted a miss on home subscriber progress. Shares of Netflix had been down 2% Wednesday.
Cuban stays optimistic that Netflix will speed up its progress globally because it continues to penetrate the markets abroad.
“Each single new good TV that has come out has Netflix as an possibility. Once you go to the fitness center, each good exercise system has Netflix as an possibility,” Cuban mentioned. “It is ubiquitous not simply right here, but it surely’s changing into extra ubiquitous globally as nicely … I do not see the competitors negatively impacting that in any respect.”
The corporate posted unfavorable free money stream of $1.7 billion for the fourth quarter. It reiterated that its money burn peaked in 2019 and mentioned it is now shifting slowly towards being free money stream optimistic sooner or later.
“Streaming media, leisure and content material is a world story…