Hello traders everywhere. Netflix Inc. (NASDAQ:NFLX) is expected to release its third-quarter earnings shortly after the bell this afternoon. Netflix's stock hit a record high last week after analysts at Goldman Sachs predicted the company would post subscriber gains above expectations and raised their price outlook from $200 to $235, while JP Morgan's analyst raised their forecast to $225 from $210.
- Netflix revenue for Q3 2017 is expected to be $2.97 billion, according to a Thompson Reuters consensus estimate.
- EPS is projected at 32 cents, per a Thomson Reuters consensus estimate.
- The strong growth is based on continued subscription additions, despite price increases.
Shares traded above $200 for the first time Friday and continue to trade above that level today. Netflix Inc. (NASDAQ:NFLX) raised some of its prices earlier this month, including for its high-definition plan and 4K streaming plan. Despite the price increase, analysts believe subscribers will stick with the company and are bullish on its international growth.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,488.03
Dow (INDEX:DJI): 22,219.11
NASDAQ (NASDAQ:COMP): 6,343.96
Gold (NYMEX:GC.Z17.E): 1,292.90
Crude Oil (NYMEX:CL.X17.E): 50.70
U.S. Dollar (NYBOT:DX.Z17.E): 92.00