Netflix Faces High Expectations Ahead of Earnings Report

Netflix Inc’s stock (NASDAQ: NFLX) is under the spotlight on Thursday as investors eagerly anticipate the company’s earnings report after the bell. Netflix is set to kick off the start of big tech earnings season with analysts expecting earnings of $4.74 per share and revenue of $9.528 billion, as reported by Benzinga Pro. In the previous quarter, Netflix exceeded revenue expectations by delivering $9.37 billion while also surpassing EPS estimates with earnings of $5.28 per share.

The streaming giant’s guidance for the second quarter includes anticipated revenue of $9.49 billion and earnings of $4.68 per share. In the first quarter, Netflix added a notable 9.33 million new paid subscribers, bringing their total paid subscribers to 269.6 million. However, the company expects a decrease in new paid additions for the upcoming quarter due to seasonal patterns. Additionally, amidst the earnings anticipation, it was revealed that the creators of the popular show ‘Stranger Things’ have a new show in the works for Netflix, giving fans something to look forward to.

At the time of publication, Netflix shares were down by 0.79% to $642.34. Investors are monitoring closely as the earnings report could potentially impact the stock price. Analysts’ updates leading up to the earnings report have been closely tracked for any insights they may provide into Netflix’s performance and future prospects. As anticipation builds, the market awaits the earnings report to gain a clearer picture of the company’s financial health and trajectory.