Tech

Netflix’s quarterly results are tomorrow’s hottest ticket on Wall Street

Streaming giant Netflix will report the results of its second quarter tomorrow night, after a troubled weekend on Wall Street after an analyst at Deutsche Bank toned down investor expectations.

The second best performing stock on the S&P 500 index is expected to report an increase in worldwide subscriber numbers of nearly 21 per cent over the last year at 332.5m, according to Emarketer.

Consensus forecasts collated by S&P Global Market Intelligence put Netflixs expected revenue for the quarter at $3.94bn (£2.98bn), up 41.38 per cent, with earnings per share reaching $0.79. At the same time last year, earnings per share were just $0.15.

Read more: Netflix's share price is at record high, rising over 103 per cent in 2018

The news comes after Netflixs share price fell 4.3 per cent as markets closed on Friday, as Deutsche Bank warned the company could fall short of subscriber growth numbers in its quarterly results. The S&P 500, meanwhile, posted its highest closing level since the beginning of February.

Netflix is forecast to capture nearly 74 per cent of all US streamed video content this year, second only to Google-owned online juggernaut Youtube.

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Tech

Netflix’s quarterly results are tomorrow’s hottest ticket on Wall Street

Streaming giant Netflix will report the results of its second quarter tomorrow night, after a troubled weekend on Wall Street after an analyst at Deutsche Bank toned down investor expectations.

The second best performing stock on the S&P 500 index is expected to report an increase in worldwide subscriber numbers of nearly 21 per cent over the last year at 332.5m, according to Emarketer.

Consensus forecasts collated by S&P Global Market Intelligence put Netflixs expected revenue for the quarter at $3.94bn (£2.98bn), up 41.38 per cent, with earnings per share reaching $0.79. At the same time last year, earnings per share were just $0.15.

Read more: Netflix's share price is at record high, rising over 103 per cent in 2018

The news comes after Netflixs share price fell 4.3 per cent as markets closed on Friday, as Deutsche Bank warned the company could fall short of subscriber growth numbers in its quarterly results. The S&P 500, meanwhile, posted its highest closing level since the beginning of February.

Netflix is forecast to capture nearly 74 per cent of all US streamed video content this year, second only to Google-owned online juggernaut Youtube.

Original Article

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Your email address will not be published. Required fields are marked *

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