The online streaming service, which has become synonymous with original content streaming over the past couple of years, is scheduled to report its quarterly earnings for Q4 of 2019 tomorrow after the market close.
The consensus forecasts project the earnings per share of Netflix to reach $0.5 cents, which would measure a $0.2 hike compared to the same period last year when the company reported EPS of $0.3.
Netflix is anticipated to reach its subscription-growth goals for the first time this year, after having missed its targets in Q3 and Q4 of 2019.
That is why market experts project a likely growth in the company’s net revenue, which is expected to have reached $5.4 billion in 2019, a sizable increase compared to the reported $4.2 billion in Q4 2018.
Overall, the anticipated boost from new subscriptions is likely to prompt a heightened demand for Netflix's shares. As a consequence, the share price of the company is expected to surge during Wednesday's trading session.
Currently, it is rising in a bullish channel on the daily chart, and the share price has recently broken out above the pivotal price level at 335.26 (the 61.8 per cent Fibonacci retracement), which is now acting as a support.
NETFLIX 1D Price Chart. Image source: Trendsharks ©, created with TradingView.com
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