Tech Stocks Continue Higher as Netflix Posts Strong Q3 Results

Nasdaq 100 Index, Netflix, US Treasury Yields, Company Earnings – Speaking Factors

  • Netflix beats consensus estimates for earnings, subscriber development
  • Nasdaq 100 features but once more as sentiment continues to enhance
  • US Treasury Yields proceed to march greater, 10-year reaches excessive of 1.64%

Netflix shares gained within the after hours session following a powerful earnings launch for the third quarter. The streaming behemoth beat the consensus earnings estimate and in addition posted robust paid subscriber development.

  • Revenues:$7.48 billion vs $7.48 billion est.
  • Earnings per Share (EPS): $3.19 vs $2.56 est.
  • Paid Subscriber Progress: 4.4 million vs 3.84 million est.

The robust launch from Netflix was bolstered by robust steerage for This fall, with firm executives relating a set of content material that has been delayed for the latter levels of 2021. The corporate additionally commented on its current push into gaming, revealing that testing has begun throughout numerous markets, however the undertaking stays in its infancy.

Netflix Every day Chart

Nasdaq 100 Outlook: Tech Stocks Continue Higher as Netflix Posts Strong Q3 Results

Chart created with TradingView

Following some notable gyrations throughout September, US fairness indices have made vital pushes again towards all-time highs. Regardless of the US 10-year Treasury yield spiking to its highest degree since Could, tech shares continued to maneuver greater. Sentiment stays excessive as market contributors now forged an eye fixed to the company earnings season. With the seasonality results and the potential for a powerful slate of company earnings, main US indices could proceed to stretch greater and retrace all of September’s decline.

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— Written by Brendan Fagan, Intern

To contact Brendan, use the feedback part beneath or @BrendanFaganFX on Twitter


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