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Netflix, Inc. (NFLX - Free Report) is scheduled to report first-quarter 2020 earnings on Apr 21, after market close. The streaming entertainment service provider’s quarterly earnings surpassed the Zacks Consensus Estimate in all the last four quarters, the average being 57.6%. In fact, shares of the company have gained 21.9% over a year and this stock price appreciation also came in against the Zacks Broadcast Radio and Television industry’s decline of 5.2%.
Q120 Was an Eventful Quarter for the NFLX Stock
Netflix, which carries a Zacks Rank #2 (Buy), is particularly in focus because of the coronavirus-triggered lockdown, which stranded millions across the globe in their homes with little or no option left other than working from home. The streaming giant proved to be a significant source of entertainment in recent weeks, and registering strong viewership. Specifically, in the United States, Netflix witnessed a spike in new subscriptions, per a Forbes report.
In fact, the company’s reliance on its streaming services led the stock to hit a two-year high on Apr 14 during a phase when movie theatres and other media companies have their doors locked. On that date, the stock closed at more than $413 per share, reaching the maximum since July 2018.
Of course, the lockdown and strict social-distancing measures are the major reasons behind this uptrend. But there are also other factors soaring up this streaming giant’s fortunes. Netflix released an array of diverse shows throughout first-quarter 2020, some of which acquired international acclaim and solid viewership because of their unique and gripping content.
For example, Tiger King, a true-crime miniseries about private zookeepers released by the leading streaming entity on Mar 20, was watched by as many as 34.3 million people around the globe within Mar 30, according to Nielsen.Other popular shows (both originals and new episodes of an existent show) that released in the firstquarter 2020 included Dracula, Pandemic: How to Prevent an Outbreak, Chilling Adventures of Sabrina, BoJack Horseman, Narcos: Mexico, Cable Girls, Elite and Archibald's Next Big Thing, which garnered robust viewership and attracted new subscribers onto the streaming giant’s platform.
Q120 Earnings and Revenue Expectations
The Zacks Consensus Estimate for Netflix’s first-quarter earnings is pegged at $1.62 per share, suggesting a significant improvement (113.2%) from the year-ago quarter’s reported earnings of $0.76.
In addition, the Zacks Consensus Estimate for Netflix’s first-quarter revenues stands at $5.70 billion, indicating a 26.1% rise from the revenues reported for the quarter ended March 2019.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Can Netflix Continue to Beat Estimates in Q1?
Netflix, Inc. (NFLX - Free Report) is scheduled to report first-quarter 2020 earnings on Apr 21, after market close. The streaming entertainment service provider’s quarterly earnings surpassed the Zacks Consensus Estimate in all the last four quarters, the average being 57.6%. In fact, shares of the company have gained 21.9% over a year and this stock price appreciation also came in against the Zacks Broadcast Radio and Television industry’s decline of 5.2%.
Q120 Was an Eventful Quarter for the NFLX Stock
Netflix, which carries a Zacks Rank #2 (Buy), is particularly in focus because of the coronavirus-triggered lockdown, which stranded millions across the globe in their homes with little or no option left other than working from home. The streaming giant proved to be a significant source of entertainment in recent weeks, and registering strong viewership. Specifically, in the United States, Netflix witnessed a spike in new subscriptions, per a Forbes report.
In fact, the company’s reliance on its streaming services led the stock to hit a two-year high on Apr 14 during a phase when movie theatres and other media companies have their doors locked. On that date, the stock closed at more than $413 per share, reaching the maximum since July 2018.
Of course, the lockdown and strict social-distancing measures are the major reasons behind this uptrend. But there are also other factors soaring up this streaming giant’s fortunes. Netflix released an array of diverse shows throughout first-quarter 2020, some of which acquired international acclaim and solid viewership because of their unique and gripping content.
For example, Tiger King, a true-crime miniseries about private zookeepers released by the leading streaming entity on Mar 20, was watched by as many as 34.3 million people around the globe within Mar 30, according to Nielsen.Other popular shows (both originals and new episodes of an existent show) that released in the firstquarter 2020 included Dracula, Pandemic: How to Prevent an Outbreak, Chilling Adventures of Sabrina, BoJack Horseman, Narcos: Mexico, Cable Girls, Elite and Archibald's Next Big Thing, which garnered robust viewership and attracted new subscribers onto the streaming giant’s platform.
Q120 Earnings and Revenue Expectations
The Zacks Consensus Estimate for Netflix’s first-quarter earnings is pegged at $1.62 per share, suggesting a significant improvement (113.2%) from the year-ago quarter’s reported earnings of $0.76.
In addition, the Zacks Consensus Estimate for Netflix’s first-quarter revenues stands at $5.70 billion, indicating a 26.1% rise from the revenues reported for the quarter ended March 2019.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>