3 months ago
Key Takeaways
- Netflix is group to study second-quarter net aft nan doorbell Thursday, pinch investors apt to beryllium watching for continued subscriber growth.
- Analysts expect Netflix's gross and net to emergence from nan year-ago quarter.
- Netflix could besides connection updates regarding nan company's push to grow its sports intermezo offerings.
Netflix (NFLX) is group to study net for nan 2nd 4th of 2024 aft nan doorbell Thursday, pinch investors apt to beryllium watching if nan streaming titan tin proceed to turn subscribers amid its push to grow its sports intermezo offerings.
The institution is projected to study gross of $9.51 billion, according to estimates compiled by Visible Alpha, representing a 16.1% emergence complete nan year-ago quarter. Net income is expected to travel successful astatine $2.1 cardinal aliases $4.74 per share, down from nan anterior quarter, but good supra nan $1.5 cardinal aliases $3.29 per stock reported successful nan aforesaid play successful 2023.
| Analyst Estimates for Q2 2024 | Q1 2024 | Q2 2023 | |
| Revenue | $9.51 billion | $9.37 billion | $8.19 billion |
| Diluted Earnings Per Share | $4.74 | $5.28 | $3.29 |
| Net Income | $2.1 billion | $2.3 billion | $1.5 billion |
Key Metric: Subscriber Growth
Netflix investors will beryllium looking to spot if nan institution tin proceed to build connected respective quarters of subscriber growth. Netflix reported 269.6 cardinal streaming subscribers successful nan first 4th of 2024, up 16% from nan aforesaid play a twelvemonth earlier.
Netflix's subscriber guidelines has climbed arsenic nan institution cracked down connected password sharing, pinch J.P. Morgan analysts anticipating subscribers will proceed to emergence arsenic nan institution expands its personification guidelines internationally and adds caller contented pinch its push to connection much sports entertainment. The analysts projected Netflix could adhd 5 cardinal nett caller subscribers successful nan 2nd quarter.
Business Spotlight: Sports Entertainment
Netflix has announced a number of deals successful caller months to expand its sports intermezo offerings, including Christmas Day National Football League (NFL) games and World Wrestling Entertainment (WWE) events.
In its net call, Netflix could supply much updates connected its push into sports, pinch J.P. Morgan analysts expecting Netflix to adhd much sports contented arsenic nan patient useful to turn its subscriber guidelines and advertisement sales.
Netflix shares person gained complete 34% since nan commencement of 2024, astatine $656.45 arsenic of Monday's close.
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