Bank Rating | Bank of America: Netflix first-quarter performance is solid and slightly exceeds expectations, reiterates "Buy" rating

Glonghui April 20th｜BofA Securities released a report stating that Netflix's first-quarter results were solid, slightly exceeding the bank's forecasts and company guidance. The bank lowered its revenue forecast for the second quarter of the 2026 fiscal year from $12.59 billion to $12.58 billion, and its operating income forecast from $4.31 billion to $4.11 billion, to reflect company guidance. For the full year 2026, the bank slightly raised its revenue forecast from $51.28 billion to $51.37 billion, and its operating income forecast from $16.18 billion to $16.2 billion. BofA Securities reiterated its "Buy" rating on Netflix and set a target price of $125, stating that its share price will benefit from continued momentum in subscriber numbers and profitability, with ample growth potential in both advertising and live-streaming businesses.