Shares of Netflix hit an all-time high on April 15, boosting the company's value over that of rival Disney, which is deeply struggling amidst the ongoing coronavirus pandemic.
As reported by Variety, Netflix's stock "closed up 3.2%, to $426.75 per share. That gives Netflix a current market capitalization of $187.3 billion, putting it just over Disney’s $186.6 billion." Netflix will report its first quarter 2020 earnings on April 21. With people worldwide quarantined at home due to COVID-19, streaming viewership is surging. U.S viewership alone is up 109% in March 2020 over the previous year. While both Netflix and Disney+ are the beneficiaries of this increased stay-at-home viewership, Disney, as a company dependent on consumers being out in public, has suffered more revenue loss than Netflix due to the pandemic.
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