Subtext

Netflix, Inc. NFLX

SectorCommunication Services
Transcripts61
Date range2010-04-22 – 2025-04-17
Calls charted61

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-22-11+0+11+222010 Q12012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12010 Q1 · Overall: +0.22010 Q2 · Overall: +2.42010 Q3 · Overall: -3.82010 Q4 · Overall: +0.82011 Q1 · Overall: +3.12011 Q2 · Overall: +3.42011 Q3 · Overall: +3.52011 Q4 · Overall: +4.92012 Q1 · Overall: +2.02012 Q2 · Overall: +2.62012 Q3 · Overall: +6.92012 Q4 · Overall: +9.02013 Q1 · Overall: +8.82013 Q2 · Overall: +4.72013 Q3 · Overall: +8.72013 Q4 · Overall: +10.92014 Q1 · Overall: +9.32014 Q2 · Overall: +11.12014 Q3 · Overall: +2.92014 Q4 · Overall: +6.52015 Q1 · Overall: +7.42015 Q2 · Overall: +8.52015 Q3 · Overall: +10.62015 Q4 · Overall: +9.62016 Q1 · Overall: +11.12016 Q2 · Overall: +7.02016 Q3 · Overall: +9.12016 Q4 · Overall: +14.12017 Q1 · Overall: +15.02017 Q2 · Overall: +17.02017 Q3 · Overall: +12.72017 Q4 · Overall: +10.72018 Q1 · Overall: +12.92018 Q2 · Overall: +16.12018 Q3 · Overall: +10.62018 Q4 · Overall: +14.22019 Q1 · Overall: +17.42019 Q2 · Overall: +15.32019 Q3 · Overall: +14.12019 Q4 · Overall: +10.72020 Q1 · Overall: +9.42020 Q2 · Overall: +19.32020 Q3 · Overall: +8.62020 Q4 · Overall: +12.52021 Q1 · Overall: +13.52021 Q2 · Overall: +12.02021 Q3 · Overall: +18.62021 Q4 · Overall: +11.32022 Q1 · Overall: +14.92022 Q2 · Overall: +15.32022 Q3 · Overall: +14.32022 Q4 · Overall: +16.42023 Q1 · Overall: +17.82023 Q2 · Overall: +13.72023 Q3 · Overall: +15.02023 Q4 · Overall: +12.12024 Q1 · Overall: +14.42024 Q2 · Overall: +18.42024 Q3 · Overall: +17.62024 Q4 · Overall: +12.32025 Q1 · Overall: +14.4
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-35-18+0+18+352010 Q12012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12010 Q1 · CEO: -1.82010 Q2 · CEO: +1.02010 Q3 · CEO: -4.92010 Q4 · CEO: +13.92011 Q1 · CEO: +9.52011 Q2 · CEO: +13.62011 Q3 · CEO: +12.52011 Q4 · CEO: +16.52012 Q1 · CEO: +5.72012 Q2 · CEO: +5.62012 Q3 · CEO: +9.72012 Q4 · CEO: +16.32013 Q1 · CEO: +11.12013 Q2 · CEO: +21.12013 Q3 · CEO: +14.72013 Q4 · CEO: +24.12014 Q1 · CEO: +22.02014 Q2 · CEO: +10.52014 Q3 · CEO: +13.72014 Q4 · CEO: +7.22015 Q1 · CEO: +18.92015 Q3 · CEO: +22.62015 Q4 · CEO: +15.82016 Q1 · CEO: +17.32016 Q2 · CEO: +21.62016 Q3 · CEO: +10.92016 Q4 · CEO: +25.12017 Q1 · CEO: +24.52017 Q2 · CEO: +30.32017 Q3 · CEO: +24.12017 Q4 · CEO: +22.82018 Q1 · CEO: +17.32018 Q2 · CEO: +30.52018 Q3 · CEO: +18.92018 Q4 · CEO: +19.22019 Q1 · CEO: +21.22019 Q2 · CEO: +20.32019 Q3 · CEO: +10.82020 Q1 · CEO: +13.52020 Q3 · CEO: +3.52020 Q4 · CEO: +20.02021 Q1 · CEO: +4.92021 Q2 · CEO: +9.92021 Q3 · CEO: +25.72021 Q4 · CEO: +12.12022 Q1 · CEO: +23.02022 Q2 · CEO: +5.12022 Q3 · CEO: +18.72010 Q1 · CFO: +20.82010 Q2 · CFO: +8.92010 Q3 · CFO: -0.72010 Q4 · CFO: +4.02011 Q1 · CFO: +9.22011 Q2 · CFO: +1.82011 Q3 · CFO: +12.02011 Q4 · CFO: +3.22012 Q1 · CFO: -5.72012 Q2 · CFO: +4.32012 Q3 · CFO: +17.22012 Q4 · CFO: +11.72013 Q1 · CFO: +3.82013 Q2 · CFO: +3.52013 Q3 · CFO: +7.42013 Q4 · CFO: +16.42014 Q1 · CFO: +6.72014 Q2 · CFO: +12.82014 Q3 · CFO: -5.12014 Q4 · CFO: +9.92015 Q1 · CFO: +4.52015 Q2 · CFO: +7.32015 Q3 · CFO: +11.42015 Q4 · CFO: +5.32016 Q1 · CFO: +10.52016 Q2 · CFO: +0.92016 Q3 · CFO: +11.02016 Q4 · CFO: +7.52017 Q1 · CFO: +10.12017 Q2 · CFO: +10.82017 Q3 · CFO: +10.32017 Q4 · CFO: +9.32018 Q1 · CFO: +9.52018 Q2 · CFO: +11.32018 Q3 · CFO: +6.52018 Q4 · CFO: +12.32019 Q2 · CFO: +9.62019 Q3 · CFO: +9.32020 Q1 · CFO: +5.12020 Q2 · CFO: +17.52020 Q3 · CFO: +4.92020 Q4 · CFO: +5.62021 Q1 · CFO: +5.82021 Q2 · CFO: +10.82021 Q3 · CFO: +16.32021 Q4 · CFO: +0.02022 Q1 · CFO: -2.32022 Q2 · CFO: +7.52022 Q3 · CFO: +10.82022 Q4 · CFO: +4.62023 Q1 · CFO: +19.62023 Q2 · CFO: +8.82023 Q4 · CFO: +9.02024 Q1 · CFO: +11.52024 Q2 · CFO: +18.52024 Q3 · CFO: +14.12024 Q4 · CFO: +6.02025 Q1 · CFO: +0.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-22-11+0+11+222010 Q12012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12010 Q1 · Prepared remarks: +0.02010 Q2 · Prepared remarks: +4.32010 Q3 · Prepared remarks: -4.02010 Q4 · Prepared remarks: +0.52011 Q1 · Prepared remarks: +2.92011 Q2 · Prepared remarks: +3.32011 Q3 · Prepared remarks: +3.82011 Q4 · Prepared remarks: +5.92012 Q1 · Prepared remarks: +2.02012 Q2 · Prepared remarks: +1.82012 Q3 · Prepared remarks: +5.32012 Q4 · Prepared remarks: +10.42013 Q1 · Prepared remarks: +10.32013 Q2 · Prepared remarks: +4.72013 Q4 · Prepared remarks: +10.92014 Q1 · Prepared remarks: +9.32014 Q2 · Prepared remarks: +11.12014 Q3 · Prepared remarks: +2.92014 Q4 · Prepared remarks: +6.52015 Q1 · Prepared remarks: +7.42015 Q2 · Prepared remarks: +8.52015 Q3 · Prepared remarks: +10.62015 Q4 · Prepared remarks: +9.62016 Q1 · Prepared remarks: +11.12016 Q2 · Prepared remarks: +7.02016 Q3 · Prepared remarks: +9.12016 Q4 · Prepared remarks: +14.12017 Q1 · Prepared remarks: +15.02017 Q2 · Prepared remarks: +17.02017 Q3 · Prepared remarks: +12.72018 Q1 · Prepared remarks: +12.92018 Q2 · Prepared remarks: +16.12018 Q3 · Prepared remarks: +10.62018 Q4 · Prepared remarks: +14.22019 Q1 · Prepared remarks: +17.42019 Q2 · Prepared remarks: +15.32019 Q3 · Prepared remarks: +14.12019 Q4 · Prepared remarks: +10.72020 Q1 · Prepared remarks: +9.42020 Q2 · Prepared remarks: +19.32020 Q3 · Prepared remarks: +8.62020 Q4 · Prepared remarks: +12.52021 Q1 · Prepared remarks: +13.52021 Q2 · Prepared remarks: +12.02021 Q3 · Prepared remarks: +18.62021 Q4 · Prepared remarks: +11.32022 Q1 · Prepared remarks: +14.92022 Q2 · Prepared remarks: +15.32022 Q3 · Prepared remarks: +14.32022 Q4 · Prepared remarks: +16.42023 Q1 · Prepared remarks: +17.82023 Q2 · Prepared remarks: +13.72023 Q4 · Prepared remarks: +12.12024 Q1 · Prepared remarks: +14.42024 Q2 · Prepared remarks: +18.42024 Q3 · Prepared remarks: +17.62024 Q4 · Prepared remarks: +12.32025 Q1 · Prepared remarks: +14.42010 Q2 · Q&A responses: -9.62011 Q3 · Q&A responses: +3.82011 Q4 · Q&A responses: +6.72012 Q2 · Q&A responses: +10.22012 Q3 · Q&A responses: +15.92012 Q4 · Q&A responses: +12.42013 Q1 · Q&A responses: +9.52013 Q3 · Q&A responses: +8.82017 Q4 · Q&A responses: +10.82023 Q3 · Q&A responses: +15.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-1.62$12.04$25.702010 Q12012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12014 Q1: $0.702014 Q2: $0.782014 Q3: $0.842014 Q4: $0.672015 Q1: $0.562015 Q2: $0.342015 Q3: $0.282015 Q4: $0.262016 Q1: $0.472016 Q2: $0.662016 Q3: $0.722016 Q4: $0.972017 Q1: $1.332017 Q2: $1.482017 Q3: $1.812017 Q4: $2.262018 Q1: $3.092018 Q2: $3.722018 Q3: $3.962018 Q4: $4.172019 Q1: $4.632019 Q2: $4.622019 Q3: $5.052019 Q4: $5.492020 Q1: $6.572020 Q2: $7.512020 Q3: $8.152020 Q4: $9.032021 Q1: $10.662021 Q2: $11.752021 Q3: $12.262021 Q4: $13.122022 Q1: $11.852022 Q2: $11.432022 Q3: $10.572022 Q4: $10.522023 Q1: $12.212023 Q2: $12.732023 Q3: $14.542023 Q4: $15.862024 Q1: $18.142024 Q2: $20.362024 Q3: $22.032024 Q4: $23.82

Forward P/E

-20.71243.72508.162010 Q12012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12014 Q1: 85.732014 Q2: 82.182014 Q3: 77.072014 Q4: 71.132015 Q1: 108.922015 Q2: 273.252015 Q3: 371.712015 Q4: 471.692016 Q1: 210.262016 Q2: 143.952016 Q3: 133.812016 Q4: 127.262017 Q1: 109.212017 Q2: 102.842017 Q3: 101.602017 Q4: 83.122018 Q1: 104.062018 Q2: 102.132018 Q3: 92.552018 Q4: 63.972019 Q1: 78.062019 Q2: 78.772019 Q3: 57.712019 Q4: 58.432020 Q1: 48.002020 Q2: 59.582020 Q3: 59.392020 Q4: 58.122021 Q1: 49.212021 Q2: 41.912021 Q3: 47.542021 Q4: 46.122022 Q1: 30.172022 Q2: 15.762022 Q3: 21.192022 Q4: 30.212023 Q1: 24.892023 Q2: 34.632023 Q3: 28.352023 Q4: 30.262024 Q1: 33.602024 Q2: 33.682024 Q3: 31.352024 Q4: 37.34

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↓ -8.1 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q4 tone ↑ +3.5 fwd EPS ↓ -0.17 Tone rose while the forward EPS estimate was cut.
  • 2015 Q3 tone ↑ +2.1 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2016 Q2 tone ↓ -4.1 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -4.3 fwd EPS ↑ +0.33 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q4 tone ↓ -2.0 fwd EPS ↑ +0.45 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -5.6 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -3.5 fwd EPS ↑ +0.44 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q3 tone ↓ -10.7 fwd EPS ↑ +0.63 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -7.2 fwd EPS ↑ +0.86 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↑ +3.6 fwd EPS ↓ -1.27 Tone rose while the forward EPS estimate was cut.
  • 2023 Q2 tone ↓ -4.1 fwd EPS ↑ +0.52 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -2.9 fwd EPS ↑ +1.32 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -5.3 fwd EPS ↑ +1.79 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-17+14.4——View →
2024 Q42025-01-21+12.3$23.8237.3View →
2024 Q32024-10-17+17.6$22.0331.4View →
2024 Q22024-07-18+18.4$20.3633.7View →
2024 Q12024-04-18+14.4$18.1433.6View →
2023 Q42024-01-23+12.1$15.8630.3View →
2023 Q32023-10-18+15.0$14.5428.4View →
2023 Q22023-07-19+13.7$12.7334.6View →