Netflix Investors Brace For Q2 Earnings

LOS GATOS, CA — Investors are bracing for bad news as Netflix readies to release its second quarter earnings report after today’s closing bell.

The Los Gatos-based streaming service has already lost more than two thirds of its market value this year and warned in April that subscriber losses could reach two million.

Investors are likely expecting bad news based on the company’s most recent guidance but will be closely watching Netflix’s outlook for the last two quarters of this year.

And at least one industry analyst is warning of a “end-of-days” event with broader implications for the multibillion-dollar streaming industry.

“This could be the kind of end-of-days, biblical prophecy, eschatological moment,” the analyst told TheWrap.

The Wrap’s Joe Bel Bruno put it this way: “Hollywood is bracing for impact: Netflix financial results on Tuesday could become a defining moment for the entertainment industry’s multi-billion dollar streaming arms race.”

Read more in The Wrap