Snap Inc. and Netflix Inc. have seen increased usage as the COVID-19 pandemic forces people to entertain themselves at home, but only one is expected to see increased earnings when they report financial results Tuesday afternoon.
Snapchat is “the experimental platform that’s susceptible to budget cuts,” according to Bernstein analyst Mark Shmulik. “Netflix’s [first half of 2020] release slate appears largely unaffected,” Raymond James analyst Justin Patterson wrote in a note. “COVID-19 and production halts may affect the 2H20 slate, but that holds for the entire industry.”Snap’s stock is off 33% over the past three months, while Netflix shares have reached record highs that have pushed the company near a $200 billion valuation. Their first-quarter results are expected after the trading day is complete Tuesday.
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