Several notable names in the streaming and entertainment sector, including Walt Disney Co (NYSE:DIS), are trading lower in sympathy with Netflix Inc (NASDAQ:NFLX) after the company reported first-quarter earnings results.
Netflix reported quarterly earnings of $3.53 per share which beat the analyst consensus estimate of $2.90. Netflix also reported quarterly sales of $7.87 billion which missed the analyst consensus estimate of $7.93 billion by 1%. This sales figure represents a 10% increase over sales of $7.16 billion in the same period last year.
Netflix sees second-quarter revenue of $8.053 billion, below the analyst consensus estimate of $8.21 billion. Netflix also sees EPS of $3.00, below the analyst consensus estimate of EPS of $3.01. Netflix reported global streaming paid memberships at 219.64 million, which represents a loss of 2 million from the first-quarter.
According to data from Benzinga Pro, Disney is trading lower by 3.79% at $126.90 in Tuesday's after-hours session.
