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Netflix is set to report quarterly earnings after market close on Tuesday as the media industry faces consolidation, spinouts and intensified competition.
Here’s how Netflix is expected to perform for the period ended Sept. 30, according to estimates from analysts polled by LSEG:
Earnings per share: 82 cents estimatedRevenue: $12.87 billion estimated
Last week, Netflix said it was laying off about 6% of employees, or roughly 1,000 workers, and that Chief Content Officer Bela Bajaria was departing from that role.
The changes come as Netflix faces stagnating viewership and growing competition from the likes of YouTube. At the same time that streaming subscriber additions have slowed in recent years, advertising has once again become a major revenue driver for media companies.
With the help of its cheaper, ad-supported tier, Netflix continues to post solid profits and remains the biggest player in the streaming realm.
On Tuesday, Netflix announced new features for advertisers that it says will help better connect brands to the right audiences and measure the impact of their ads.
However, the company’s stock has fallen about 40% in the past year, and executives have been publicly exploring new avenues for growth.
This story is developing. Please check back for updates.
