Can Netflix stay one of Wall Street's favorite pandemic stocks? Results due Thursday

📆 14/07/2020 23:55:00
📰 Reuters

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Netflix Inc will tell investors on Thursday how home-bound audiences and a lack of live sports have boosted its membership rolls even as streaming competition rises to unprecedented levels.

FILE PHOTO: A smartphone with the Netflix logo is seen on a keyboard in front of displayed"Streaming service" words in this illustration taken March 24, 2020. REUTERS/Dado Ruvic

In April, Netflix wowed Wall Street by reporting twice the number of expected signups for the first quarter, bringing its worldwide total to 182.9 million customers. The company tried to lower expectations by stressing that the pandemic-related boost likely would fade later. Netflix has forecast 7.5 million customers for the period, which included the release of “Space Force,” “Too Hot to Handle,” a Jerry Seinfeld comedy special and a new season of “Money Heist.”Consumers did, however, have several streaming options. Walt Disney Co’s Disney+ came online in November, and AT&T Inc launched HBO Max in May.

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