Now I finally had time to look at this in more detail. I have somewhat mixed feelings about this: the train is going in the right direction regarding profitability and EPS quite well, but growth is indeed modest.
Pros
- Churn is on a downward trend
- Marketing costs barely grew even though revenue increased somewhat.
- Profitability is improving rapidly, and the full-year forecast was even slightly raised.
Question marks:
- Average subscribers grew by only about 2% from the previous quarter (and ~10% from a year ago) - can this even be called a growth company anymore?
- Streaming revenue growth is modest (Q1-Q3/25 increase of only 4% YoY). Profitability can be improved up to a certain point, but I believe there should be more growth as well.
- Of course, now that profitability is reaching a better level, perhaps we will start to see more rapid expansion in the future?
Here are the compiled figures:
