From Nasdaq: 2024-04-15 11:24:00

Netflix is set to report first-quarter 2024 results, with expected earnings of $4.49 per share, up 55.9% year over year. Revenues are projected to increase by 13.2% to $9.24 billion. The company’s earnings have beaten estimates in three of the last four quarters. Competition from Disney+, HBO Max, and others remains a challenge.

For Q1, Netflix expects paid net sub additions to be down sequentially but up year over year by 1.8 million. The company anticipates growth in global ARM and plans to benefit from ad-supported low-priced plans. The addition of Grand Theft Auto: The Trilogy is expected to boost subscriber base and offerings. Diversified content portfolio and a strong games portfolio also drive growth.

In the upcoming earnings report, Netflix is expected to show growth in paid total streaming net membership additions. Revenue estimates for Asia-Pacific, Latin America, EMEA, and the United States/Canada show positive growth projections. Disney and Apple are set to report their second-quarter fiscal 2024 results in May. Stay updated with the Zacks Earnings Calendar for more information.



Read more at Nasdaq: Netflix (NFLX) Gears Up for Q1 Earnings: What’s in the Cards?