Netflix (NFLX) is set to report Q1 results today on its website right at the close with a video call to follow at 6pm ET.
Current S&P CapitalIQ consensus is for EPS to grow 90% yr/yr to $2.99 and for revenue to grow 24% yr/yr to $7.14 bln.
In January, NFLX guided to EPS of $2.97 and revenue of $7.129 bln.
NFLX also guided to Q1 global streaming net adds of +6.00 mln.
Numbers to Watch:
The most important number to watch for NFLX is global streaming net adds.
Q1 tends to be a sequentially higher quarter than Q4, so the sequential caused people to pause last time.
Operating margin is another metric to watch.
NFLX is guiding for a big jump in 1Q21 to 25.0% from 16.6% in 1Q20.
TECHS:
The stock has traded sideways in the $475-575 area since July 2020. This has been ongoing despite other tech names soaring. This shows investor caution as NFLX starts to lap the huge net adds reported during the pandemic. If the stock can “surprise” enough to break above this trading range, that would be a positive sign for a potential chase higher.
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