Geetha Ranganathan

You know, they can possibly sell CNN.

So they think they can extract a lot of value, which is why we think that Paramount might need to go up to about $34 to fully kind of get on board.

Yeah, what really investors need to hear is, first of all, I think everybody's looking for really good 4Q numbers.

And that should, I think that should absolutely, Netflix would absolutely deliver on that.

But I think the major thing that investors are going to focus on, Ed, is going to be guidance for 2026.

The magic number that ConsenSys is looking at is 13% revenue growth.

Should Netflix guide to anything lower than that?

I think they are going to be in trouble.

I hope the focus really turns, and this is a distraction from this whole drama that we've seen.

But fundamentals-wise, you're absolutely right.

The company has never been in a stronger situation.

We think they will absolutely deliver on their revenue growth expectations of about 17%.

Strong operating margin, strong free cash flow.

They're expecting about $9 billion for the full year.

Yes.

So from a financing standpoint, obviously Netflix right now has about 0.4 times of a net leverage ratio, which is way below media peers like Disney or Comcast, for instance.

But again, this is a company that has an absolutely robust balance sheet.

And as my credit colleague, Steve Flynn, constantly says, I mean, this is a company that throws out billions and billions in free cash flow.

So absolutely no problem.

Yes, their leverage will go up to about