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Netflix It is scheduled to report third-quarter earnings after the closing bell on Tuesday.
The streaming service will no longer provide investors with quarterly subscriber updates, but Wall Street will be eager to hear about the extent of recent price hikes and the platform’s growing advertising level — especially as companies across all sectors grapple with consumers tightening their wallets.
Here’s what Wall Street expects for the company’s fourth quarter:
- EPS: $6.97, according to LSEG
- profit: $11.51 billion, according to LSEG
Netflix made big profits in the first and second quarters of the year. The company indicated that revenue gains in the first half of the year were due to higher subscription prices, increased advertising revenues and increased member subscriptions.
“The third quarter saw Netflix make progress on a number of non-core initiatives including podcasting, physical locations and gaming,” Mike Proulx, vice president and director of research at Forrester, said in a statement. “But will Netflix find itself spread too thin as it advances its diversification strategy? Consumers choose Netflix because of its high-quality content. If the company expands too much to become all about entertainment, it risks diluting its core.”
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