Netflix beats Q3 estimates: Will Disney follow the Netflix?

Shares of the world’s two largest streaming entertainment giants, Netflix (NASDAQ: NFLX) and Walt Disney Company (NYSE: DIS) were mostly under pressure in 2022. Especially, Netflix stock crashed below $200 and dropped more than 65% this year, impacted by the company’s slowing growth and competition in streaming. The slump that’s wiped out roughly $70 billion of the streamer’s market capitalization.

Recently shares of Netflix recovered back to above $300 after the streaming giant announced better-than-expected third-quarter financial results. Netflix generated Q3 revenues of $7.92 billion, up 5.9% from $7.48 billion in the year-ago period.

Moving ahead, Walt Disney is scheduled to report fourth-quarter financial results after the U.S. markets close on Tuesday, November 08. Investors should closely monitor the Disney+ net paid subscriber additions because recently streaming pioneer Netflix’s Q3 earnings report showed, Netflix returned to positive subscriber growth.

Check out the detailed blog here -