Netflix Inc

NASDAQ:NFLXUnited States

Ratings actions from Benzinga: https://www.benzinga.com/quote/NFLX/analyst-ratings

(END) Dow Jones Newswires

May 02, 2024 08:02 ET (12:02 GMT)

By Dan Gallagher

What Paramount Global will look like a year from now is far from certain. Perhaps the only certainty is that getting there will be a rough ride.

This was essentially confirmed by the company's first-quarter report Monday afternoon. The numbers themselves were fine, with the Super Bowl providing a strong boost to advertising revenue and even helping lift subscribers to the Paramount+ streaming service. But the financial results have become a sideshow to the company's ongoing merger drama, which got its latest twist Monday with the announced departure of Chief Executive Bob Bakish.

Jacob Sonenshine

Stocks have performed poorly after earnings reports, leaving investors with opportunities.

The average stock-price reaction the day after earnings for S&P 500 companies is down 0.4%, according to Evercore. That's even with aggregate earnings per share beating expectations by 11%. Sales have more narrowly beaten estimates and margins have been stronger than forecast. Expenses such as cost of goods aren't rising much, and firms are only moderately raising prices.

By Eric J. Savitz

Meta Platforms shares headed sharply lower in late trading Wednesday after the parent of Facebook and Instagram posted better-than-expected results for the first quarter, while ratcheting up its spending plans for the year as it continues to invest in artificial intelligence software and services.