Netflix's revenue reached $7.16 billion in the first quarter

<p><a href="https://admiralmarkets.com/analytics/traders-blog/netflix-results-april-2021"><img data-resize="auto" data-resize="auto" data-resize="auto" style="width:auto;" class="img-responsive" data-src="https://fxmedia.s3.amazonaws.com/articles/mceu_43688817111619006567225.jpg" /></a></p>
<p><span>Yesterday, we once again received a battery of quarterly results on Wall Street, where Netflix's results particularly stood out.</span></p>
<p><span>As with last January, their results were </span><b>positive both in earnings per share and in the income obtained</b><span>, although contrary to the previous results, the increase in new subscribers disappointed the market, since they were much lower than expected by the market consensus, showing a sharp slowdown in the number of new customers.</span></p>
<p><span>Specifically, Netflix obtained </span><b>earnings per share of $3.75 and revenue of $7.16 billion</b><span> compared to the $2.97 per share and $7.14 billion expected by the market consensus, while the number of subscribers remained at just 3.98 million more compared to the 6.2 million expected.</span></p>
<p><span>This setback in the number of new subscribers has been very badly received, since after the market closed, Netflix plummeted 10%, although </span><b>in the pre-opening the decreases are at 8%</b><span>, since investors fear that the entertainment giant cannot keep up with its spectacular growth numbers.</span></p>
<p><span>Although Netflix downplays this data, it is true that in recent months the competition in this sector has been fierce, as platforms such as </span><b>Disney+, HBO Max, and Amazon Prime increasingly attract more customers due to the attractiveness of their catalogues</b><span>.</span></p>
<p><span>Technically speaking, for the past few months, Netflix has moved in a wide side channel between the red and green stripes that act as the main support and resistance levels respectively.</span></p>
<p><span>If we look at the daily chart, we can see how after leaning on its average of 200 sessions in red and on the long-term uptrend line, the price started an upward rebound in the middle zone of this channel, generating a channel failure and therefore showing strength in price.</span></p>
<p><span>This rebound has taken the price back towards levels close to its current resistance, </span><b>although after the latest results it is possible that this movement will be truncated and that the price may make a new downward impulse</b><span> in search of its trend line that currently acts as a main support.</span></p>
<p><span><img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/mceu_10963497821619006619990.png" /></span></p>
<p><em><span>Source: Admiral Markets </span></em><a href="https://admiralmarkets.com/trading-platforms/metatrader-5"><em><span>MetaTrader 5</span></em></a><em><span>. Netflix daily chart. Data range: from December 23, 2019, to April 21, 2021. Prepared on April 21, 2021, at 1:00 p.m. CEST. Keep in mind that past returns do not guarantee future returns.</span></em></p>
<p><span>Price evolution of the last 5 years:</span></p>
<ul>
<li aria-level="1"><span>2020: 67.11%</span></li>
<li aria-level="1"><span>2019: 20.89%</span></li>
<li aria-level="1"><span>2018: 39.44%</span></li>
<li aria-level="1"><span>2017: 55.06%</span></li>
<li aria-level="1"><span>2016: 8.24%</span></li>
</ul>
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