Jump to content
The Twitter Feeds are now back on the Platform ×

Netflix Pops on Earnings Beat


MongiIG

Recommended Posts

NETFLIX EARNINGS KEY POINTS:

  • Netflix reported better-than-expected bottom-line results on Tuesday
  • Third-quarter EPS stood at $3.10 versus a forecast of $2.12. Revenue came in at $7.93 billion, slightly below expectations of $7.98 billion

Where next for Netflix shares as 25% of subscribers poised to quit? | IG  South Africa

 

Netflix soared in the extended session after announcing strong quarterly numbers and offering constructive forward-looking projections. At the time of writing, NFXL shares were up about 15% to $278.00 after a tepid performance during regular trading hours.

According to Tuesday’s financial disclosure, third-quarter revenue stood at $7.93 billion, slightly below analysts' estimates of $7.98 billion, representing a 5.9% increase compared to the same period last year. With this result, normalized EPS clocked in at $3.10, blowing past expectations of a gain of $2.11 per share.

In terms of membership growth, management said that 2.41 million subscribers were brought onboard, beating the forecast of 1.0 million and reversing all losses during the first half of the year. In addition, the streamer said it expects to add 4.5 million paying users for the last three months of the year, slightly above estimates of 3.9 million.

NETFLIX RESULTS AT A GLANCE

Normalized EPS: $3.10 vs. $2.12 per share expected, according to Bloomberg

Revenue: $7.93 billion vs. $7.98 billion expected, according to Bloomberg

Global Paid Net Subscribers: 2.41 million new subscribers vs. expectations of a gain of 1 million

 

NETFLIX (NFLX) 5-MINUTE CHART

NFLX_2022-10-18_16-20-36_4160a.png

Netflix Chart Prepared Using TradingView

While the results were largely positive, investors placed less importance on past performance and chose to focus on profitability. In this regard, Netflix said the worst of the slowdown is over and that it is on a path to reaccelerate growth, but noted that the upcoming ad-supported tier will not have a material contribution to fourth-quarter performance (results may take longer to play out).

The release of Netflix's earnings follows a somewhat positive day on Wall Street. Stocks surged at the cash open, but retraced some of their advance throughout the day on cautious sentiment and unconfirmed reports that Apple will cut iPhone 14 production amid weak consumer demand. After all the twists and turns in the day, the S&P 500 climbed 1.14%% to 3,719, while the Nasdaq 100 edged up 0.77% to 11,147.

 

 

Oct 18, 2022 | DailyFX
Diego Colman, Strategist

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,697
    • Total Posts
      92,062
    • Total Members
      41,982
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    mixer50x350
    Joined 31/03/23 21:31
  • Posts

    • Hello everyone, i am looking to hold shares long term Apple Tesla in a spreadbetting account just wounded if there is a calculation example Tesla $195.00 1 share = ? ponds per point spread bet. Thanks for any help
    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
×
×
  • Create New...