Netflix shares gained in the after hours session following an impressive earnings release for the third quarter. The streaming behemoth beat the consensus earnings estimate and also posted strong paid subscriber growth.
- Revenues:$7.48 billion vs $7.48 billion est.
- Earnings per Share (EPS): $3.19 vs $2.56 est.
- Paid Subscriber Growth: 4.4 million vs 3.84 million est.
The strong release from Netflix was bolstered by strong guidance for Q4, with company executives touching on a collection of content that has been delayed for the latter stages of 2021. The company also commented on its recent push into gaming, revealing that testing has begun across various markets, but the project remains in its infancy.
NETFLIX DAILY CHART
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Following some notable gyrations during September, US equity indices have made significant pushes back toward all-time highs. Despite the US 10-year Treasury yield spiking to its highest level since May, tech stocks continued to move higher. Sentiment remains high as market participants now cast an eye to the corporate earnings season. With the seasonality effects and the potential for a strong slate of corporate earnings, major US indices may continue to stretch higher and retrace all of September’s decline.
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The tech-heavy Nasdaq 100 Index pushed higher on Tuesday as market participants eagerly awaited key earnings releases. Netflix beats on earnings and new subscribers.
Read more at : https://www.dailyfx.com/forex/market_alert/2021/10/19/Nasdaq-100-Outlook-Tech-Stocks-Continue-Higher-as-Netflix-Posts-Strong-Q3-Results.html