Netflix Might Offer This Week’s Most Interesting Earnings Report
Top streaming service Netflix (NFLX) is set to reveal its quarterly earnings later today, just after the closing bell.
Netflix (NFLX) stock has gained 36% since the start of 2024, and the company is set to release its earnings report later today, just after the bell closes trading for the day.
The excellent performance of this stock has analysts on Wall Street urging investors to buy. Over the last year, this stock has earned nearly 50%. It is expected to continue to do well throughout the remainder of the year and remain a strong stock for investors.
Netflix is gearing up to go into sports programming, expanding its catalogue of offerings in a big way. This has investors excited for how the stock might grow as a result. The new content could conceivably pull in tons of new subscribers for the platform, which is incredibly important for an excellent earnings report and guidance when looking ahead.
The company has already stated recently that it expects to have trouble adding new subscribers in the near future, anticipating a flattening of its subscriber growth as it reaches market saturation, but the sports content could help spur new growth and allow the platform to reach an untapped market.
The movie and television streaming company is relying on its original content to keep its earnings high, anticipating excellent word of mouth for new programming that cannot be found on any other streaming service.
Anticipated Earnings for Netflix
Netflix expects earnings per share of $4.77 and a quarterly revenue of $9.53 billion. While these numbers look good for Netflix already, it is important to point out that Netflix has done a great job of beating earnings estimates recently. For the past two years of earnings, the company beat earnings estimates 50% of the time and beat earnings per share estimates 75% of the time.
Netflix stock is currently down by 1.15%, despite analysts expecting a good earnings report for the quarter. At $640, the stock price is elevated compared to previous years as well as recent months. Netflix stock has risen over the year, but not steadily. It could be due for another slump if this year’s behavior repeats, so investors should be aware of that.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals