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For the first quarter, Netflix reported adjusted EPS of $3.75 on $7.16 billion in revenue. Both numbers beat consensus analyst estimates of $2.97 and $7.13 billion, respectively. Revenue was up 24% from a year ago.
Netflix also said it added just 3.98 million global paid net subscribers in the quarter well short of consensus estimates of 6.2 million subscribers. Netflix said the pandemic is partly to blame for the slowdown in subscriber growth given the company has not been able to produce as much new content as it would like.
In addition, Netflix is facing a growing wave of streaming video competitors led by
Walt Disney Co (NYSE: DIS) and
From removing “Fortnite” to a potential ban on WeChat in the U..S, there has been a lot of news related to the Apple, Inc. (NASDAQ: AAPL) App Store in recent weeks.
Bank of America analyst Wamsi Mohan said Tuesday the safest place for investors to watch the drama unfold is from the. Read More.