Netflix Massive Slowdown in Subscribers and Intuitive Surgical Grand Earnings Beat
Netflix is one of the largest companies in the world. Dubbed as one of the “FAANG” stocks, Netflix has grown exponentially in the last 5 years as streaming platforms continued to grow.
On Tuesday, Netflix reported their 2021 first-quarter earnings after the closing bell. They reported an earnings per share of $3.75, crushing the expectation of $2.97. Along with that, the Street expected $7.13 billion in revenue, which Netflix narrowly beat with $7.16 billion in revenue. Because Netflix is a streaming service, investors had a high expectation on Netflix’s subscriber additions. Unfortunately, this was a major miss. 6.2 million subscriber additions were expected, and Netflix ended up reporting a meager 3.98 million increase in subscribers. This was a stark contrast to the 8.5 million subscribers in the previous quarter, which raised many concerns about the stock.
Netflix closed at $549.47 on Tuesday but fell to $490.74 after hours due to the earnings report.
Intuitive Surgical is a company that specializes in the Medical Instruments and Supplies industry. As a member of the NASDAQ 100 and S&P 500, the large-cap company has built itself as one of the larger players in its area.
Tuesday brought splendid news, after market close, Intuitive Surgical reported earnings and topped Wall Street expectations. Revenue increased by 18% as the company was able to ship many of its da Vinci surgical systems. The earnings also saw a hefty increase, jumping to $3.52 per share. Many positives came out of this earnings report, leaving Intuitive Surgical’s future very bright.
The stock price jumped to $842.50 after hours, up 3.87%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.