Netflix Gets ‘Squid Game’ Boost
What's next for the streaming king?
Today is Wednesday, October 20, 2021.
Netflix Gets ‘Squid Game’ Boost in Earnings
Although shares of Netflix (Nasdaq: NFLX) fell 1.43% during after-hours trading on Tuesday, the streaming giant posted good earnings thanks in part to its hit show, “Squid Game.”
Numbers: Netflix posted earnings per share of $3.19, which was better than the expected earnings of $2.56 per share. The revenue of $7.48 billion was as expected.
Subscriber Growth: The number of Netflix subscribers grew by 4.4 million, which was also higher than expected. Most of the growth came in Asia Pacific, Europe, the Middle East, and Africa. The company also hopes to add 8.5 million subscribers in the fourth quarter.
Game On: Netflix has also begun testing its video game service in select countries, the company said.
Big Hit: In a letter to shareholders, Netflix said that “Squid Game” is now “our biggest TV show ever” as it is the company’s #1 program in 94 countries, and “Squid Game has also pierced the cultural zeitgeist.”
Outlook: Netflix is still the king of streaming, but will it continue to dominate against so much competition? Can the company find the next big hit or will it have to wait until the second season of “Squid Game?”
Final Thoughts: On October 4, when Facebook (Nasdaq: FB) experienced a global outage, Netflix said that its engagement rate increased by 14%.
Notable Earnings Today: IBM (NYSE: IBM), Tesla (Nasdaq: TSLA), Verizon (NYSE: VZ), CSX (Nasdaq: CSX), Biogen (Nasdaq: BIIB), Abbott Laboratories (NYSE: ABT), Canadian Pacific Railway (NYSE: CP), Comerica (NYSE: CMA), Discover Financial Services (NYSE: DFS), NextEra Energy (NYSE: NEE), Travelzoo (NASDAQ: TZOO).
Notable IPOs Today: Stronghold Digital Mining, Inc. (Nasdaq: SDIG), Cyngn Inc. Common Stock (Nasdaq: CYN), Alpine 4 Holdings, Inc. Class A Common Stock (Nasdaq: ALPP), Navitas Semiconductor Corporation Common Stock (Nasdaq: NVTS), Context Therapeutics Inc. Common Stock (Nasdaq: CNTX)
Notable Equity Crowdfunding Campaigns Ending Today: FirstRoot (NetCapital), Valkyrie Axe Throwing (MainVest), BeWell Digital (Wefunder), COLORS Worldwide (StartEngine), Solutions Vending International (StartEngine).
Notable Economic Events Today: Crude oil inventories (10:30 a.m. ET).
United Airlines Ascends Thanks to Positive Results
Shares of United Airlines jumped 2.27% during after-hours trading on Tuesday after the aviation giant posted better-than-expected losses.
Numbers: United Airlines reported a loss of $1.02 per share, which was better than the expected loss of $1.67. It also reported revenue of $7.75 billion, which was also slightly better than expected.
Big Picture: While the company cited a positive return to leisure travel, as well as stronger future expectations for business and international travel, United did not elaborate on specifics.
Fuel Problem: United also expects to pay more for fuel in the upcoming quarter. Will the company pass that cost along to travelers?
Final Thoughts: United, as well as the entire travel sector, is banking on a big recovery in 2022.
Shiba Inu Price Prediction
With the current price of the cryptocurrency Shiba Inu at around $0.00002799, what will the price be in the future?
Less Than A Buck: Broctagon CEO Don Guo recently told Express.co.uk that Shiba Inu will not hit $1 because its market cap is too small. Thus, it will always be worth less than $1.
Numbers: Wallet Investor pegs the coin at being worth roughly $0.000081 in five years. Similarly, Coin Price Forecast says that it will be worth $0.00011225 by the end of 2026.
Can’t Predict: Finally, personal finance expert Myron Jobson told The Sun that the price of Shiba Inu is something that you can’t predict because it lacks intrinsic value.
Final Thoughts: With the price of Shiba Inu soaring 200% in recent weeks, a price prediction for the future could be virtually anything.
Trends to Watch
Big Surge: BlackBerry moves to 15% gain amid triple share volume (Seeking Alpha)
Progress: Newest Class of Corporate Directors Is the Most Diverse Yet, but Gains Are Uneven (The Wall Street Journal)
Big Step: Bitcoin price rally could be ‘supercharged’ as crypto ETF milestone finally passed (The Independent)
Partnership: Coinbase Stock Jumps After Pilot Deal With Facebook Digital Wallet Novi (The Street)
Switch: Grayscale Files To Convert $38 Billion Bitcoin Trust To Spot ETF (Bitcoin Magazine)
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