Netflix Set to Unveil Q1 2024 Earnings Amid Subscription Growth and Rumors of Price Increases
18 Abril 2024 - 9:27AM
IH Market News
Netflix (NASDAQ:NFLX) is poised to announce its financial
results for the first quarter of 2024 after the US stock markets
close on Thursday. Wall Street analysts are projecting a notable
increase in revenues and earnings, with expectations set for the
video-on-demand streaming giant to post earnings of $9.27 billion
for the quarter, up from $8.2 billion in the same period last year.
The earnings per share (EPS) are anticipated to rise significantly
to $4.52, compared from $2.88 per share in the previous year.
Analysts at MoffettNathanson are optimistic about subscriber
growth, predicting an addition of between 5 million and 7 million
new subscriptions. This boost is expected to elevate the total
number of Netflix subscribers to over 265 million globally. Such
growth continues to underline Netflix’s dominance in the streaming
sector.
Investors and analysts are also closely monitoring the potential
impact of rumored subscription price increases on new memberships.
Although Netflix’s Standard plan price has been stable since
January 2022, there are strong indications of an impending price
hike.
Adding to its revenue stream, Netflix’s advertising-driven tier
has shown significant growth. Amy Reinhard, Netflix’s president of
advertising, highlighted at the Variety Entertainment Summit in
January that the ad-tier plan had attracted over 23 million monthly
active users. This development hints at an expanding revenue base
for the company.
Further attention is on Netflix’s strategy to curtail password
sharing, a move that substantially boosted subscriber numbers in
the latter half of 2023. Although the surge from this initiative is
expected to stabilize, the platform continues to draw attention
with recent hits like “Avatar: The Last Airbender,” “The
Gentlemen,” and “Griselda,” along with movies such as “Damsel” and
“Spaceman.”
The impact of Verizon Communications Inc.’s latest bundle
offerings on Netflix’s performance is still under scrutiny.
Verizon’s web portal, which includes Netflix-STARZ and Netflix
Premium-AMC+ packages, could influence Netflix’s subscription
dynamics and financial outcomes.
Shares of Netflix were up 0.62% in premarket trading, priced at
$617.50 each. The company’s market capitalization currently stands
at $265.58 billion, reflecting investor confidence ahead of the
earnings release.
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