A strong rebound is what we saw on Tuesday after a late sell-off on Monday. Risk-on sentiment arrived as second-quarter earnings have so far brought stability. Around 11% of the S&P 500 companies reported their earnings, and 64% had beaten estimates.
Some analysts have attributed the current scenario to a relief rally after stocks were punished hard going into earning. In addition, the strong dollar did not spell as big a problem for companies with substantial overseas sales as most investors had feared.
💻Netflix: Back on the Growth track📈
A sign of green shoots for the video streaming company as better than expected results on subscriber trends gave investors some reasons for cheer. Moreover, it announced a plan to launch an ad-based nature subscription tier in early 2023.
The result shed light on the promising growth in Asia that helps to offset losses seen in the US and Europe. While there was a loss of 970,000 subscribers in the second quarter, it now expects to see an additional 1 million subscribers in the third quarter. The loss in the second quarter is also far less than the estimated 2 million.
Like most companies, a strong dollar has dented its revenue in dollar terms.
Investors will be eyeing for more clues about successive transformative plans from the management, and Pika World will follow up on that, especially on steps to reduce the prevalence of password-sharing accounts.
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