Netflix Will Report Earnings on October 19
What will happen?
Netflix inc., a subscription-based streaming service that allows its members to watch TV shows and movies without commercials on an internet-connected device, will present an earnings report for the Q3 on October 19 after the stock market closes (23:59 GMT+3). The release will be followed by an investor conference call at 01:00 GMT+3, October 20.
What to expect?
Netflix experienced a huge inflow of new customers due to pandemic restrictions, which made people spend more time in front of their laptops and mobile devices. But the most important is that the company keeps holding onto those gains even though the global economy has entered the recovery phase.
For Q3 2021 Netflix forecasted growth on 3.5 million subscribers and a revenue of $7.48B. However, the global hype around “Squid Game” could help Netflix to overperform predictions. The Korean tv show has the potential to accelerate growth in one of the fastest-growing regions for Netflix, the Asia-Pacific.
Netflix predicts that “Squid game” will create almost $900 million for the company, while the costs were $21.4 million only. Since its release on September 17, the series has been watched by a total of 111 million accounts. The previous leader, the Bridgeton melodrama, had 82 million views.
It’s hard to imagine that analysts and even Netflix itself could predict how successful this TV show will be. That’s why it seems that experts’ revenue predictions will be easily overperformed in Q3.
Technical analysis
4H chart
