Netflix (NFLX) stock has surged to another all-time high as tech rallies after Donald Trump clinched victory over Kamala Harris in the presidential election.
The stock is currently trading above $790 a share and has climbed more than 60% since the start of the year, with 10% gains over the past month — far outpacing broader markets.
The moves higher extend beyond the recent Trump-fueled rally, however, as Netflix stands out among a list of battered media sector names.
The streamer has added more than 50 million paying subscribers since launching its password crackdown in May 2023. Its projected full-year operating margins are expected to hit 27%, with management hinting the company has the potential to eventually secure margins similar to broadcast networks, which historically have been in the range of 40% to 50%.
And in the first three quarters of 2024, Netflix pulled in roughly $6.9 billion in net income. Its competitors aren’t even close.
Disney (DIS) and Paramount Global (PARA) just reported their first quarter of profits in their respective streaming businesses earlier this summer. A shift for the industry, yes, but not a cure-all for the problems that have plagued traditional media, with Comcast (CMCSA) the most recent company to weigh spinning off its cable networks.
“Netflix is clearly running away with the ball and the media-based streaming companies are struggling to even get on the field,” Barton Crockett, managing director at Rosenblatt Securities, previously told Yahoo Finance.
