Netflix Reports Earnings Thursday. Here's How Much Its Stock Is Expected to Move

Netflix is set to report Q1 earnings after the close on Thursday, and options pricing implies a potential stock swing of about ±6% by week’s end. Analysts expect revenue of $12.19 billion and EPS of $0.78, each up more than 15% year-over-year. The report is the company’s first since exiting the Warner Bros. Discovery bidding and receiving a $2.8 billion termination fee, and JPMorgan expects Netflix to be “re-focused,” possibly raising margin guidance. Netflix shares are up roughly 13% year-to-date and analysts’ average price target of $118 implies about 11% upside from Tuesday’s close. The combination of strong consensus estimates, the termination fee, and bullish analyst sentiment suggests the earnings print could materially move the stock and investor outlook.