Netflix Inc (NASDAQ:NFLX) shares are trading higher Wednesday ahead of the company’s second-quarter financial results, which are due after the bell.
What To Know: Netflix is set to report second-quarter financial results after the close. Management will hold a conference call to discuss the results beginning at 6 p.m. ET.
Netflix is expected to report earnings of $2.85 per share on quarterly revenue of $8.29 billion, according to estimates from Benzinga Pro. In the second quarter of 2022, Netflix beat earnings estimates with EPS of $3.20, but the company narrowly missed top-line estimates.
Netflix has topped earnings expectations in six of the last seven quarters, but revenue numbers have been more inconsistent.
Last quarter, Netflix guided for earnings of $2.84 per share on revenue of $8.2 billion and said the company remains on track to meet its full-year 2023 financial objectives.
Investors and analysts will be paying close attention to subscriber numbers. Netflix had 232.5 million paid subscribers as of the end of the first quarter. The company said it was benefitting from its password sharing crackdown and expected it to show up in the numbers in the coming quarters. Netflix also noted that it experienced engagement above its initial expectations for its ad-supported tier.
Check This Out: Netflix Q2 Earnings Preview: Earnings Estimates, Analyst Predictions And Key Concerns Like The Hollywood Strike
NFLX Price Action: Netflix shares are up more than 45% over the last three months.
The stock was up 1.18% at $480.40 at the time of publication, according to Benzinga Pro.
Photo: yousafbhutta from Pixabay.
