Netflix Chills Sub Reporting

And, Intuitive Surgical's Covid impact.

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Today is Friday, April 19, 2024.

The Early Bird Index today is 66.69.

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Netflix Chills Sub Reporting

Despite posting strong financial results on Thursday, shares of Netflix (Nasdaq: NFLX) fell 4.85% in after-hours trading.

Financials: Netflix reported earnings of $5.28 per share in the past quarter and revenue of $9.37 billion; both were better than expected.

Details: The streaming giant added 9.3 million subscribers in the quarter, which was better than expected. Netflix’s ad membership grew by 65%.

Outlook: Netflix expects revenue in the current quarter to grow by 16%, which is also good.

Yes, But: Starting next year, Netflix said it will no longer report on its quarterly subscriber numbers. This announcement disappointed investors.

Stock Price: Before these results, Netflix was up 30% in 2024. The stock is down 1.5% in the last 30 days.

Final Thoughts: Netflix continues to dominate its competition by rolling out new types of content. But, the decision to no longer report subscriber numbers is unpleasant to investors. - Outsmart Most People with 1-Click AI

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Notable Earnings Today: Procter & Gamble (NYSE: PG), American Express (NYSE: AXP), SLB (NYSE: SLB), Fifth Third Bancorp (Nasdaq: FITB), Huntington Bancshares (Nasdaq: HBAN), Regions Financial (NYSE: RF), Wipro (NYSE: WIT).

Notable IPOs Today: Linkers Industries Limited Class A Ordinary Shares (Nasdaq: LNKS), Tungray Technologies Inc Class A Ordinary Shares (Nasdaq: TRSG), YY Group Holding Limited Class A Ordinary Shares (Nasdaq: YYGH), Sushi Ginza Onodera, Inc. (NYSE American: ONDR), Solaris Resources Inc. (NYSE American: SLSR).

Notable Equity Crowdfunding Campaigns Ending Today: HG Sply Co. - Alliance (Mainvest), RealWorld (Netcapital), Ghosted Concepts (Mainvest), Valo (Wefunder), Enviro Water Minerals Company (Netcapital).

Notable Economic Events Today: N/A.

Intuitive Surgical's Covid Impact

Source: Intuitive Surgical / Instagram

The combination of strong financial results and an analysis of the pandemic sent Intuitive Surgical shares (Nasdaq: ISRG) up 3.42% in after-hours trading on Thursday.

Financials: Intuitive Surgical reported earnings of $1.50 per share in the past quarter and revenue of $1.89 billion; both were better than expected.

Details: The company produces robotic and surgical products. Procedures involving its flagship product (called da Vinci) grew 16% in the quarter. Overall revenue increased by 11%.

Powering the Story: During the quarter, Intuitive Surgical did not have any procedure volume disruption from the COVID-19 pandemic. A year ago, the pandemic’s resurgence in China caused da Vinci procedures to drop.

Quote: “We believe that the high patient treatment backlogs that developed during the COVID-19 pandemic contributed positively to the 2023 procedure volumes, as those patients returned for diagnosis and treatment.” - Intuitive Surgical.

Final Thoughts: Intuitive Surgical is up 12.6% this year, but down 4.5% in the last 30 days. This is one of the few healthcare-related stocks to grow in the past year.

KB Home Expands Buyback, Grows Dividend

Shares of the homebuilding company KB Home (NYSE: KBH) ticked up 2.63% in after-hours trading on Thursday after disclosing a new $1 billion stock buyback and a 25% increase in the dividend.

Final Thoughts: Amid a rough housing market, KB Home is down 2% this year.

Bitcoin’s Big Weekend: This Bitcoin Halving Is Different. But Is It 'Priced In'? (CoinDesk)

The Future is Here: Boeing aims to bring flying cars to Asia by 2030 (Nikkei Asia)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.