Michael Pachter Sees Netflix Poised to Grow Despite Subscriber Losses, Layoffs

Netflix is poised to have a successful Q2 according to Michael Pachter of Wedbush Securities. Even though the beginning of 2022 has presented a rough start for the streamer amid subscriber losses, the analyst predicts a recovery with growth internationally and advertising support. His forecast comes even as news broke that Netflix is laying off 150 employees given its recent stock declines. "They're right-sizing the workforce, and we're talking about a couple of percent of their workers," he said. "It's not like they laid off half their workers, so they're trimming and they're going to keep trimming until they get it right. I think that once they start growing again, they will fund their growth out of profits."
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