I condensed the chart so that it better fit on a page and I also added a bézier curve.
The full chart shows Netflix has lost money every quarter since 2012.
I seldom link to Seeking Alpha because they make you register to read articles in one page, otherwise, they make you scroll through stuff one page at a time. In this case, five pages.
This kind of user unfriendliness does not promote link sharing. Some people do not like subscribing out of fear there email address will be sold and they will be bombarded with crap.
I am an actual subscriber, yet the site cannot even bother to remember that. It asked me to login or subscribe to keep reading.
I stopped reading on page 2. It does not take five pages to understand that chart.
Netflix is very dependent on the bond market. If the bond market revolts before it can turn a profit, the company will cash in bankruptcy.
Mike "Mish" Shedlock