Netflix is set to report its first quarter earnings Tuesday, one of the first releases to show the impact of the coronavirus pandemic on the streaming platform.
Shares of Netflix have gained 35% year-to-date through Monday's close, outperforming the broader market and boosted in part by the coronavirus outbreak that's kept millions of Americans at home. The streaming platform has been named in a number of "stay at home" baskets of stocks, slated as one of few companies to benefit from social-distancing to curb the spread of COVID-19
Here's what analysts surveyed by Bloomberg expect:
In addition, Netflix has recently released a slew of popular new content, including titles such as "Tiger King," reality show "Love is Blind," and the third season of "Ozark."
The new shows may have helped Netflix compete against other streaming services including Disney Plus — the pace of subscription cancellations on the platform declined in both February and March, according to data from subscription measurement and analytics firm Antenna, Business Insider's Ashley Rodriguez reported. The rebound came after Netflix was hurt by the launch of Disney Plus last year.
In March, Netflix's US registration website saw a surge in traffic, especially in the last three weeks of the month, according to data from analytics firm SimilarWeb. The spike coincides with the US going into lockdown mode amid the coronavirus pandemic.
Here's what four analysts have to say about Netflix ahead of its earnings report:
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