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Earnings Alert: Netflix and Tesla's High-Stakes Reports – Key Levels & Dates Inside

Alejandro Zambrano Alejandro Zambrano 19/01/2024
Earnings Alert: Netflix and Tesla's High-Stakes Reports – Key Levels & Dates Inside Earnings Alert: Netflix and Tesla's High-Stakes Reports – Key Levels & Dates Inside
Earnings Alert: Netflix and Tesla's High-Stakes Reports – Key Levels & Dates Inside Alejandro Zambrano

The US earnings season is in full swing.
 

Two trader favourites, Tesla and Netflix, will be reporting. 
 

When are the reports due? 
 

Netflix is due to report earnings after market close on January 23, while Tesla reports earnings on Wednesday January 24, also after market close.  
 

What are the expectations for Netflix (NFLX) 
 

Earnings per share is anticipated to be $2.2, while revenue is expected to be $8.71B. They have managed to beat the EPS estimates in the last three quarters. Their current price to earnings ratio is 49.07, suggesting that the markets expect the company to grow their earnings substantially in the years ahead, failure to do so will likely disappoint investors. Q4 revenue is projected to increase by 11% year-over-year, reaching $8.7 billion. As per their latest filings, the company added a net of 8.76 million paying subscribers, to reach a new record of 247 million users.  
 

The share price is in an uptrend, since the summer of 2022, and as long as the price trades above the October low of $343, the long-term uptrend will remain upwards. Traders with a short-term bias will however focus on the December low of $444 and will likely remain bullish above this level. The nearest next resistance level is the January $502 high, followed by $544, and $619.  


 

What are the expectations for Tesla (TSLA)

 

Earnings per share (EPS) is anticipated to be 0.731, while revenues should reach 25.64B. The firm managed to beat EPS estimates in Q4, 2022, Q1, 2023 and Q2, 2023, but failed in Q3, 2023. Revenue increased in 2022, but this is on the heels of price reductions on their cars. Yet in Q3, 2023 deliveries declined due to factory modifications. Also, recently Chinese rival BYD, with its lower-priced models, managed to overtake Tesla as the world's largest producer of electric vehicles. The company is also struggling at other fronts, and that explains the technical outlook described below.
 

Tesla has been trading lower since November 2021, and the price is capped by a downward pointing trendline. The trend line intersects with the December 26 high at $266, and a break to this level could possibly mark the end of the downtrend. Traders requiring more confidence in a trend change are likely to wait for a break to the September high of $278. The nearest support level is $193 followed by $151.  



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Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment recommendation and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. ThinkMarkets, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
 

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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