Tesla Stock Looks Promising After Delivering a Record Quarter and Netflix Faces Trouble After Recent Success from Newly Added ‘Squid Game’
Tesla reported a record quarter with deliveries up more than 70% from a year ago.
The electric vehicle pioneer delivered 241,300 electric vehicles, which topped analysts’ expectations of 220,900 electric vehicles. during the third quarter of 2021.
“Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more,” the company said in a statement.
The company has seen positive earnings revisions, which generally indicates earnings beat, ahead of its Q2 report.
Shares of Tesla have climbed 6% this year.
Netflix, Inc. shares were slightly negative Friday afternoon.
South Korean internet service provider SK Broadband is suing Netflix, after the platform’s popular show “Squid Game” allegedly led to a surge in network traffic, Reuters first reported Friday.
The legal move comes after a Seoul court said: “Netflix should ‘reasonably’ give something in return to the internet service provider for network usage.
Looking ahead, Netflix, Inc. is expected to report earnings on October 19,2021 after market close. Netflix is forecasting 3.5 million subscriber additions in its fiscal third quarter. If it hits that target, Netflix will have added a total of 54 million subscribers in the last 24 months.
According to Zacks Investment Research, the consensus EPS forecast for the quarter is $2.57. The reported EPS for the same quarter last year was $1.74.
Shares of Netflix have risen 17% this year.
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