Netflix (NFLX) is set to report Q3 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 47% yr/yr to $2.56 and for revenue to grow 16% yr/yr to $7.48 bln.
In July, NFLX guided to EPS of $2.55 and revenue of $7.477 bln. We'll also being looking for any commentary on their new video game offering.
The most important operating metric with Netflix is global streaming net adds. NFLX has been all over the place in recent quarters.
After missing prior guidance in Q3, NFLX rebounded with strong sub net add upside in Q4.
Q1 came in below guidance while Q2 upside was minimal (+1.54 mln vs +1.00 mln prior guidance). Current guidance for Q3 is +3.50 mln, while guidance for Q4 will also be closely watched. NFLX is lapping a pretty tough +8.51 mln Q4 result last year.
UCAN (US & Canada) ARPU keeps growing. Q2 came in at $14.54 vs $14.25 in Q1 and vs $13.25 a year ago. NFLX rolled out a US price increase in Q4 and now we're seeing that effect roll into the ARPU metric.
TECHS:
NFLX has been moving up nicely, up 22% since mid-August, finally breaking above a multi-month trading range in the $475-575 area since July 2020, even as other tech names were soaring.
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