Netflix Earnings Report: What You Need To Know | ORBITAL AFFAIRS

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**Netflix Set to Announce First Quarter 2024 Earnings: What Investors Can Expect**

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Netflix is gearing up to report its earnings for the first quarter of 2024 after the bell on Thursday, and investors are eagerly awaiting updates on the streaming giant’s subscriber growth and its partnership with WWE. As one of the leading players in the streaming industry, Netflix’s performance is closely watched by analysts and investors alike.

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**Revenue and Earnings Expectations**

According to consensus estimates collected by Visible Alpha, Netflix’s revenue for the first quarter of 2024 is expected to reach $9.26 billion, a significant increase from the $8.16 billion recorded in the same period last year. Analysts are also projecting adjusted net income of $2.07 billion, up from $1.38 billion in the first quarter of 2023. Adjusted diluted earnings per share (EPS) are forecasted to be $4.68, showing a substantial rise from $3.06 in the previous year.

Here is a summary of analyst estimates for Netflix’s first quarter of 2024 compared to the fourth quarter of 2023 and the first quarter of 2023:

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| Metric | Q1 2024 Estimates | Q4 2023 | Q1 2023 |
|———————————-|——————-|———|———–|
| Revenue | $9.26 billion | $8.83 billion | $8.16 billion |
| Adjusted Diluted Earnings Per Share | $4.68 | $2.32 | $3.06 |
| Adjusted Net Income | $2.07 billion | $1.03 billion | $1.38 billion |

**Key Metric: Subscriber Growth**

One of the key metrics that investors will be closely monitoring is Netflix’s subscriber count. In the fourth quarter of 2023, the streaming company reported 260.28 million paid memberships globally, marking a 12% increase from the previous year. The graph below illustrates the growth trend in Netflix’s subscriber numbers:

[Graph: Netflix Subscriber Growth]

Netflix experienced a surge in subscriber numbers following its crackdown on password-sharing, but analysts believe that this factor may already be factored into the stock price. Despite this, Wedbush maintained an “outperform” rating on Netflix but removed it from its “Best Ideas List,” indicating that impressing investors in 2024 might be more challenging than in the previous year.

**Business Spotlight: WWE Programming Updates**

Netflix’s partnership with WWE and its foray into live sports content are expected to be in the spotlight during the earnings announcement. In January, Netflix and WWE parent company TKO Group Holdings announced that WWE’s flagship weekly show, “RAW,” will be available on Netflix starting in 2025.

Wedbush analysts highlighted Netflix’s success in global content creation and profitability, pointing out potential catalysts such as leveraging WWE’s advertising potential, expanding into gaming with licensed IP, and growing viewership on the ad tier.

Despite a 2.5% decline in Netflix’s stock price at the start of the week, the company has seen significant gains of nearly 30% year-to-date and over 82% in the past 12 months.

In conclusion, Netflix’s upcoming earnings announcement is expected to provide valuable insights into its financial performance, subscriber growth, and strategic partnerships. Investors will be closely watching for any surprises or updates that could impact the company’s stock price and future prospects.

For more information on Netflix’s first quarter 2024 earnings, please visit [Investopedia](https://www.investopedia.com/netflix-q1-fy-2024-earnings-preview-8628502).

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