This week in earnings: Netflix jumps on strong subscriptions; Tesla, Humana sink
Investing.com — Here is your Pro Recap of the earnings reports you may have missed this week: Netflix, Tesla, IBM , and Humana.
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Netflix (NASDAQ:NFLX) experienced a 10% increase in its shares on Wednesday following the announcement of significantly higher subscriber growth in Q4 than analysts had predicted.
The streaming platform gained an impressive 13.12 million users in the quarter, which was a 71% increase from the same period in the previous year, far surpassing the analyst estimates of about 8.9M.
The company's revenue rose by approximately 12% year-over-year to $8.83 billion, exceeding analyst forecasts. In a letter to shareholders, Netflix expressed confidence in its business health, revising its full-year operating margin forecast upwards to 24% from the previous 22%-23% range. It also anticipates «healthy double-digit» growth in annual revenue.
InvestingPro Subscribers can see all the data for Netflix's earnings here.
Tesla (NASDAQ:TSLA) shares fell sharply by 12% on Thursday following its Q4 earnings report, which fell short of analyst expectations. The electric vehicle manufacturer reported an EPS of $0.71 for Q4, compared to the analyst estimate of $0.73. Additionally, the reported quarterly revenue of $25.17B was lower than the consensus estimate of $25.61B.
Compounding the market reaction was Tesla's warning of a projected «notably lower» sales growth for 2024 compared to the previous year. This forecast comes amid increasing competition in the electric vehicle sector and stalling demand from cost-conscious car buyers. This comes despite
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