Netflix reports earnings after the bell — here’s what to expect : Rashtra News
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Netflix is expanding its push into mobile gaming.
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Netflix is set to release its first-quarter earnings after the bell on Tuesday. The company’s shares have taken a big hit so far in 2022, falling more than 40% as it’s struggled to sustain subscriber growth while pandemic restrictions wane.
Here’s what Wall Street expects:
- EPS: $2.89, according a Refinitiv survey of analysts.
- Revenue: $7.93 billion, according a Refinitiv survey of analysts.
- Global paid net subscriber additions: 2.73 million, according to StreetAccount estimates.
Netflix previously told shareholders it expected to add 2.5 million net subscribers during the first quarter. Analysts predict that number will be closer to 2.7 million. Either figure would mark a significant downturn from the 3.98 million added during the same period in 2021.
Investors’ hyper focus on new paying customers led Netflix shares to plummet 20% after the company’s last earnings report in January. In addition to weaker-than-forecasted fourth-quarter subscriber gains, company executives quietly admitted that competition from other streaming platforms was having a negative impact on its growth.
Netflix has increased its content spend, particularly on originals, amid intense competition in the streaming space. To pay for it, it’s hiked prices of its service. While the company is exploring other options for growth, like adding video games, analysts and investors are wondering what else Netflix can do to bolster revenue.
This is breaking news. Please check back for updates.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.cnbc.com feed.)
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