El mercado tiene la mirada puesta en dos grandes catalizadores: la decisión de la FED y la capacidad de las grandes tecnológicas para demostrar cómo se monetiza la IA. Ya no alcanza con anunciar más inversión: ahora se exigen ingresos, márgenes y flujo de caja.
Netflix revenue does not need to grow 20% for EPS to grow much faster.
That is what makes the next stage of the $NFLX story so interesting.
Revenue can keep compounding through pricing, advertising, live programming, and continued engagement.
But underneath that, Netflix also has several ways to grow earnings faster than sales:
Operating margins can continue expanding as revenue grows faster than content and operating costs.
Advertising can add higher-margin revenue on top of the existing subscription base.
Price increases can flow through without requiring Netflix to acquire a brand-new customer.
And continued buybacks mean total earnings are divided across fewer shares.
Put it all together and Netflix could grow revenue at a healthy rate while EPS compounds much faster.
That is a major reason I recently started a position.