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Netflix stock slips after Q3 revenue outlook disappoints
Netflix shares declined during earnings on concerns around its third quarter revenue outlook and weaker engagement trends, in a broader US earnings week where analysts project strong S&P 500 profit growth.
Yahoo Finance reported that Netflix shares fell during its earnings session after the company’s Q3 revenue outlook disappointed and engagement trends were described as uninspiring.
The same earnings day also featured results from other large names, including Taiwan Semiconductor, UnitedHealth Group, and GE Aerospace, as the earnings slate continued.
The broader backdrop for the week was a wave of bank earnings that showed strength linked to trading activity, with JPMorgan CEO Jamie Dimon saying conditions are “getting close to as good as it gets.”
According to FactSet data cited by Yahoo Finance, analysts estimate year-over-year S&P 500 earnings growth of 23.3% for the second quarter, above the five-year average of 16.4% and the 10-year average of 10.3%.
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