Netflix Switches Reporter for Analyst for Results Video
Netflix Inc. (NFLX), the world’s largest subscription-streaming service, said it will again hold a live videocast of its quarterly results, replacing the CNBC reporter who moderated the last time with a JPMorgan Chase & Co. (JPM) analyst.
Doug Anmuth of JPMorgan Securities LLC will join BTIG LLC’s Richard Greenfield on Oct. 21 to question Netflix Chief Executive Officer Reed Hastings, Chief Financial Officer David Wells and Chief Content Officer Ted Sarandos on the company’s third-quarter results, according to a statement today.
Anmuth replaces Julia Boorstin from CNBC, who co-hosted the second-quarter event for the Los Gatos, California-based company with Greenfield.
In the videocast format, the moderators choose questions submitted in advance to put to the company’s executives. Analysts, including Michael Pachter at Wedbush Securities in Los Angeles, criticized Netflix for using the approach last quarter because it gives the appearance that parties moderating the discussion are getting access to financial information ahead of others.
Netflix plans to regularly rotate different people into the position of moderator, Jonathan Friedland, a spokesman, has said.
The company is modeling the video chat based on the format for annual meetings at Berkshire Hathaway Inc., where analysts and journalists pose questions to Chairman and Chief Executive Officer Warren Buffett, Friedland said in July.
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