The stock closed at $401.77, up 16%, on nearly five times normal trading volume.
It also reported a surge in free cash flow and signs of growth in its nascent advertising business.
They crushed it, he wrote.
NetflixPhoto Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images
The management deserves an Emmy for managing investor expectations.
We expect it is likely a bit of both given the magnitude of the beat.
Bulls on the Street, meanwhile, got even more bullish.
Alicia Reese of Wedbush echoed that sentiment.
Netflix is well-positioned in this murky environment, in her view, as streamers are shifting strategy.
Going forward, she added, Netflix should be valued as an immensely profitable, slow-growth company.
