Company News: Netflix (NFLX) quarterly earnings miss analysts’ forecast

Market news

17 July 2020

Company News: Netflix (NFLX) quarterly earnings miss analysts’ forecast

Netflix (NFLX) reported Q2 FY 2020 earnings of $1.59 per share (versus $0.60 per share in Q2 FY 2019), missing analysts’ consensus estimate of $1.83 per share.

The company’s quarterly revenues amounted to $6.148 bln (+24.9% y/y), beating analysts’ consensus estimate of $6.083 bln.

Netflix also reported global streaming net adds of 10.09 mln versus its prior guidance of 7.50 mln.

The company issued mixed guidance for Q3 FY2020, projecting EPS of $2.09 versus analysts’ consensus estimate of $1.99 and revenues of $6.327 bln versus analysts’ consensus estimate of $6.4 bln. It also guided Q3 global streaming net adds of only 2.5 mln.

NFLX fell to $491.77 (-6.75%) in pre-market trading.

China: Q2 GDP surprised to the upside - UOB

BoE's governor Bailey: Financial markets indicate interest rates will stay very low

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.