47.60 +0.16 (0.34%)
After hours: 7:55PM EST
|Bid||47.56 x 1100|
|Ask||47.68 x 1100|
|Day's Range||47.28 - 47.70|
|52 Week Range||34.67 - 47.74|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||17.58|
|Earnings Date||Jan 22, 2020|
|Forward Dividend & Yield||0.84 (1.78%)|
|Ex-Dividend Date||Jan 05, 2020|
|1y Target Est||51.06|
Earnings season is in full swing and several heavyweights are gearing up to report results Thursday including consumer staples giant Procter & Gamble and chipmaker Intel.
Intel Corp. needs to go back to being boring, but after a rocky 2019, it’s unclear whether the company can return to the way things were.
About 11 million TV viewers watched the start of the U.S. Senate impeachment trial of President Donald Trump on Tuesday when lawmakers sparred for hours over witnesses and records for the historic proceedings, according to Nielsen ratings data. The total fell short of the roughly 13.8 million viewers across 10 broadcast and cable television networks who tuned in last November for the first day of the House of Representatives impeachment inquiry into Trump. The audience figure on Tuesday covered the 4-1/2 hours of daytime coverage by six cable and broadcast networks that aired live telecasts on Tuesday.
The latest video-streaming entrant from Comcast Corp., due in April, is likely to be the focus of attention when it announces fourth-quarter results Thursday after markets close.
(Bloomberg) -- Netflix Inc. says it’s ready to take on the toughest year in its history in terms of new streaming competition. Investors have their doubts.Netflix delivered generally upbeat fourth-quarter results after Tuesday’s close, with overseas growth helping offset a slowdown at home, but it expects to add fewer subscribers in the current quarter than Wall Street projected.The shares tumbled as much as 3.7%, the most since November, in New York trading Wednesday morning, after trending mostly higher amid volatile trading since the postclose report.With technology and media giants such as Apple Inc., AT&T Inc., Comcast Corp. and Walt Disney Co. all bringing new video platforms online, Netflix is working to keep customers loyal with a flood of shows and movies. The company plans to boost its spending by 20% this year, bringing its programming budget to about $12 billion on a profit-and-loss basis.“We view our big long-term opportunity as big and unchanged,” Chief Executive Officer Reed Hastings said during a pretaped recap of its fourth-quarter earnings, released Tuesday.Despite the muted first-quarter subscriber forecast, Netflix said there’s “ample room for many services to grow.”Netflix investors have been grappling with whether the company’s days of reliable growth are over. The company added fewer customers in 2019 than it did in 2018, and its increase in the U.S. and Canada decelerated by more than 3 million. In posting the results Tuesday, Netflix said price hikes and a growing array of options have made it harder to attract customers.It’s only going to get tougher. Apple’s TV+ and the Disney+ platform both launched in the U.S. during November, enticing consumers with lower-cost services, while AT&T’s HBO Max and Comcast’s Peacock are both coming online in the next few months.All those competitors are likely to slow customer additions and increase the number of existing customers who cancel Netflix.Against that backdrop, Netflix posted its weakest year of domestic subscriber growth since it first broke out its online service from the company’s traditional DVD-by-mail business in 2011. Netflix is projecting a gain of 7 million paid subscribers worldwide in the first quarter, short of the 7.82 million estimate.“We are working hard to improve our service to combat these factors,” it said in a letter to shareholders.Staying the CourseBut the Los Gatos, California-based company argues that its strategy is still sound, and competition shouldn’t cause it to change course. Losing popular shows such as “Friends” to its new rivals has had no impact on viewership so far. Netflix subscribers are just finding other shows to watch, Chief Content Officer Ted Sarandos said.For proof, Netflix can point to its global growth in the latest quarter. The company added 8.76 million customers in the period, compared with forecasts of 7.65 million. Hastings described them as “amazing numbers.”Netflix has pinned its future potential on growth outside the U.S., where it doesn’t yet face the same level of competition. Europe and Latin America have been the company’s engine in the past couple years, and continued to serve that role in the fourth quarter. Netflix added 4.4 million customers in Europe, bringing its overall total to almost 52 million, and another 2.04 million customers in Latin America.Non-English ShowsNetflix plans to release more than 100 seasons of local language programming next year. Though its biggest global hits are mostly English-language shows such as “Stranger Things” and “The Witcher,” its most popular programs in many territories are in other languages, like Spain’s “Casa de Papel.” The company is also experimenting with different pricing plans in Asia.Netflix has borrowed billions to fund all that programming, and its long-term debt stands at almost $15 billion. But the company said this past year will mark the high-water mark in terms of its cash burn. Earnings of $1.30 a share also handily beat analyst estimates of 30 cents, lifted by a tax benefit.Investors weren’t sure what to make of Netflix’s results at first. The shares had dropped as much as 3% to $327.97 in extended trading before rebounding, then drifted lower again Wednesday morning into the open. The company’s shares had climbed 4.5% so far this year before Tuesday’s close.“After several years of unchecked dominance in the U.S. streaming-video industry, Netflix faces high-profile new streaming rivals,” Geetha Ranganathan, a Bloomberg Intelligence analyst, said in a report. “Yet the breadth of its content and a compelling value proposition will make it hard for new entrants like Disney+ to unseat the company.”(An earlier version of the story corrected a quarterly financial comparison.)To contact the reporter on this story: Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, John J. Edwards III, Cécile DauratFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Citrix Systems, Southwest Airlines, Comcast, Travelers Companies and Intuitive Surgical
Netflix’s growth driver continued to be its international user base in the last quarter of 2019, its latest financial results showed.
The fast-casual restaurant offers a menu inspired by dishes that appeared on one of "Top Chef"'s 16 seasons.
Netflix, Inc. (NFLX) has to prove that it can prosper in the expanding streaming war after Dow components The Walt Disney Company (DIS) and Apple Inc. (AAPL) fired up new services in the fourth quarter. Nervous Netflix shareholders hope that Tuesday's post-market earnings release takes a giant leap in that direction, with Wall Street analysts now expecting earnings per share (EPS) of $0.53 on fourth quarter revenues of $5.45 billion. There's little doubt that Netflix can find a comfortable niche within this growing competition, but its torrid growth rate may have topped out in 2019, and the stock can no longer sustain the still-lofty price-to-earnings (P/E) ratio of 109.
Fourth-quarter 2019 was quite promising for Wall Street as the U.S.-China trade war finally seemed to ease and strong economic data boosted investors' sentiments.
Netflix is set to report its Q4 fiscal 2019 earnings results after the closing bell on Tuesday, January 21. The streaming TV giant's stock price has climbed over the last several months but Wall Street is worried about Netflix's growing competition...
Comcast Corporation (CMCSA) announces multi-tiered pricing strategy for its new Peacock streaming service including ad-based free subscription offering slated for launch in April.
Comcast's (CMCSA) fourth-quarter 2019 earnings are likely to have benefited from the expanding high-speed Internet subscriber base and Sky's portfolio strength.