Samuel Boivin | Nuphoto | Getty Images
Netflix is expected to report quarterly results after the market closes Tuesday, as the media industry faces consolidations, splits and intensifying competition.
Here is Netflix’s expected performance for the period ended September 30, according to estimates from analysts surveyed by LSEG:
- Earnings per share: 82 cents estimated
- Income: $12.87 billion estimated
Last week, Netflix announced that it was laying off about 6% of its employees, or about 1,000 workers, and that chief content officer Bela Bajaria was leaving the role.
The changes come as Netflix faces audience stagnation and growing competition from YouTube. Even as streaming subscriber numbers have slowed in recent years, advertising has once again become a major revenue source for media companies.
Thanks to its cheaper, ad-supported tier, Netflix continues to post strong profits and remains the largest player in the streaming space.
On Tuesday, Netflix announced new features for advertisers that it says will help better connect brands with the right audiences and measure the impact of their ads.
However, the company’s shares have fallen about 40% over the past year and executives have publicly explored new avenues for growth.
This story is developing. Please check again for updates.
Gn bussni
