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#NetflixQ3AdsAndMargins Bullish on Netflix into Q3. Guidance is 12% revenue growth and a 33.2% operating margin, up from 28.2% a year ago. Q2 margin already beat guidance, and Netflix usually guides conservatively, so I expect a small beat. Ads are the upside surprise. Analysts cut Q3 ad estimates by 7.5% to ~$834M, so the bar is low. If Netflix confirms its ~$3B ad revenue target, the stock could rally. Main risk: slowing growth and soft Q4 guidance. Not financial advice.

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