of last summer by Netflix, which caused a sustained selloff of shares, seems like a distant memory. Perhaps intent on not overpromising, the company is projecting a total of 174 million subscribers worldwide by the end of the first quarter, with revenue reaching $5.7 billion and earnings per share coming in at $1.66. Those targets are in line with Wall Street expectations.
Amazon, meanwhile, should also have a knockout report. John Blackledge of Cowen & Co. sees its e-commerce business thriving due to “holiday-like” demand, with web services and advertising also apt to contribute to strong results. Amazon reports April 30, the same day as Apple, Comcast, Twitter, Imax and Altice USA.
“I think the real risk here is that the longer this goes on into the fourth [fiscal] quarter, there will be a real lack of original content production,” he said. “I just don’t see a lot of original content hitting this year.” Companies like WarnerMedia,and Comcast, which have production capabilities as well as direct-to-consumer streaming operations will likely shift more programming toward streaming, he predicted.
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