Netflix (NFLX) reported Q3 results on October 20 with revenue of about $12.9 billion and earnings of 87 cents per share, beating the 82-cent analyst estimate. Its full-year revenue outlook of $51.1 billion, up 13% year over year, sits at the low end of its prior range and below the $51.2 billion analysts expected, and the stock has since hit new lows, down around 30% year to date and more than 40% over 12 months. At a forward P/E of 17 versus 19 for the average S&P 500 stock, the article argues the valuation looks appealing for a business still growing in double digits with strong fundamentals, though no near-term catalyst is apparent and engagement challenges remain.
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