Netflix, Inc. (NASDAQ:NFLX) is reporting third quarter financial results on Tuesday 20th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, NFLX is expected to report 3Q20 income of $ 2.13 per share from revenue of $ 6379.37 million.
For the full year, analysts anticipate top line of $ 24904.40 million, while looking forward to income of $ 6.21 per share bottom line.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 2.09 ~ $ 2.09 per share, while revenues are expected in a range of $ 6,327.00 million ~ $ 6,327.00 million
Click Here For More Historical Outlooks Of Netflix, Inc.
Previous Quarter Performance
Netflix, Inc. announced income for the second quarter of $ 1.59 per share, from the revenue of $ 6,148.00 million. The quarterly earnings extended 165.00 percent while revenues grew 24.88 percent compared with the same quarter last year.
According to street consensus, NFLX was expected to report 2Q20 income of $ 1.81 per share from revenue of $ 6079.05 million. The bottom line results missed street analysts by $ 0.22 or 12.15 percent, at the same time, top line results outshined analysts by $ 68.95 million or 1.13 percent.
Stock Performance
Shares of Netflix, Inc. traded low $ -0.07 or -0.01 percent on Monday, reaching $ 530.72 with volume of 7.57 million shares. Netflix, Inc. has traded high as $ 541.75 and has cracked $ 525.43 on the downward trend
According to the previous trading day, closing price of $ 530.72, representing a 99.70 % increase from the 52 week low of $ 265.80 and a 7.75 % decrease over the 52 week high of $ 575.37.
The company has a market capital of $ 234.06 billion and is part of the Consumer Cyclical sector and Media – Diversified industry.
Recent Analyst recommendations
- On 16th October 2020, maintained by Bank of America at Buy rating, with $ 670.00 target price.
- On 16th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 630.00 target price.
- On 15th October 2020, maintained by Canaccord Genuity at Buy rating, with $ 630.00 target price.
- On 15th October 2020, maintained by KeyBanc at Overweight rating, with $ 634.00 target price.
- On 7th October 2020, maintained by Pivotal Research at Buy rating, with $ 650.00 target price.
Conference Call
Netflix, Inc. will be hosting a conference call at 4:00 PM eastern time on 20th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.netflix.com
Netflix, Inc. provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD.
