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2021-04-22
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MrEmokia
2021-04-22
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CCIV Stock: Is a Middle East Connection Boosting Churchill Capital Today?
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??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376877274","repostId":"2129380033","repostType":4,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376877063,"gmtCreate":1619105621752,"gmtModify":1704719803777,"author":{"id":"3573979414766282","authorId":"3573979414766282","authorIdStr":"3573979414766282","name":"MrEmokia","avatar":"https://static.tigerbbs.com/3fff85abf685c5b0f1d554f40e3abea5","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573979414766282"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/376877063","repostId":"1125833707","repostType":4,"repost":{"id":"1125833707","pubTimestamp":1619103569,"share":"https://ttm.financial/m/news/1125833707?lang=&edition=fundamental","pubTime":"2021-04-22 22:59","market":"us","language":"en","title":"CCIV Stock: Is a Middle East Connection Boosting Churchill Capital Today?","url":"https://stock-news.laohu8.com/highlight/detail?id=1125833707","media":"InvestorPlace","summary":"CCIV SPAC target Lucid Motors counts the Saudi sovereign wealth fund among its early and biggest inv","content":"<p>CCIV SPAC target Lucid Motors counts the Saudi sovereign wealth fund among its early and biggest investors</p>\n<p>Shares of<b>Churchill Capital</b>(NYSE:<b><u>CCIV</u></b>) are on the move up again in pre-market trading on Thursday morning as investors react to news of the latest development in Saudi Arabia’s nascent e-mobility infrastructure. CCIV stock surged 7.8% on Wednesday.</p>\n<p>Earlier today it was reported that Schneider Electric Saudi Arabia and GREENER by IHCC have signed a partnership agreement to develop e-mobility infrastructure.</p>\n<p>Any electric vehicle news from the Kingdom is under close watch by investors. Saudi Arabia’s Public Investment Fund (PIF) is an anchor investor for U.S.-based EV manufacturer <b>Lucid Motors</b>, which is set to come public in a SPAC merger with CCIV. The sovereign wealth fund announced its first investment of $1 billion in Lucid in September 2018.</p>\n<p>Lucid is scouting out locations for retail sales outlets in the Kingdom, and aims to get them up and running by the end of 2021 or early 2022, CEO Peter Rawlinson told <i>Arab News</i> earlier this year.</p>\n<p><b>CCIV Stock Gained on Biden Infra Plan</b></p>\n<p>Wednesday’s surge in CCIV stock was stoked by reports that President Joe Biden is looking at ending a legal battle with California over regulation of motor-vehicle emissions. California is the largest auto market in the U.S. and has been a leader in setting some of the strictest regulations in the country. A waiver under the Clean Air Act allowed California’s stricter regulations to become the “de facto national standard.”</p>\n<p>Accordingly, auto manufacturers petitioned President Donald Trump for relief from these standards. The Trump administration provided this relief, reinstating federal fuel economy standards and limiting the legal authority of states to set their own fuel-economy standards.</p>\n<p>Biden is now looking at reversing this decision. By doing so, investors believe that stricter fuel emissions standards will directly benefit EV makers like Lucid Motors.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CCIV Stock: Is a Middle East Connection Boosting Churchill Capital Today?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCCIV Stock: Is a Middle East Connection Boosting Churchill Capital Today?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 22:59 GMT+8 <a href=https://investorplace.com/2021/04/cciv-stock-is-a-middle-east-connection-boosting-churchill-capital-today/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CCIV SPAC target Lucid Motors counts the Saudi sovereign wealth fund among its early and biggest investors\nShares ofChurchill Capital(NYSE:CCIV) are on the move up again in pre-market trading on ...</p>\n\n<a href=\"https://investorplace.com/2021/04/cciv-stock-is-a-middle-east-connection-boosting-churchill-capital-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://investorplace.com/2021/04/cciv-stock-is-a-middle-east-connection-boosting-churchill-capital-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125833707","content_text":"CCIV SPAC target Lucid Motors counts the Saudi sovereign wealth fund among its early and biggest investors\nShares ofChurchill Capital(NYSE:CCIV) are on the move up again in pre-market trading on Thursday morning as investors react to news of the latest development in Saudi Arabia’s nascent e-mobility infrastructure. CCIV stock surged 7.8% on Wednesday.\nEarlier today it was reported that Schneider Electric Saudi Arabia and GREENER by IHCC have signed a partnership agreement to develop e-mobility infrastructure.\nAny electric vehicle news from the Kingdom is under close watch by investors. Saudi Arabia’s Public Investment Fund (PIF) is an anchor investor for U.S.-based EV manufacturer Lucid Motors, which is set to come public in a SPAC merger with CCIV. The sovereign wealth fund announced its first investment of $1 billion in Lucid in September 2018.\nLucid is scouting out locations for retail sales outlets in the Kingdom, and aims to get them up and running by the end of 2021 or early 2022, CEO Peter Rawlinson told Arab News earlier this year.\nCCIV Stock Gained on Biden Infra Plan\nWednesday’s surge in CCIV stock was stoked by reports that President Joe Biden is looking at ending a legal battle with California over regulation of motor-vehicle emissions. California is the largest auto market in the U.S. and has been a leader in setting some of the strictest regulations in the country. A waiver under the Clean Air Act allowed California’s stricter regulations to become the “de facto national standard.”\nAccordingly, auto manufacturers petitioned President Donald Trump for relief from these standards. The Trump administration provided this relief, reinstating federal fuel economy standards and limiting the legal authority of states to set their own fuel-economy standards.\nBiden is now looking at reversing this decision. By doing so, investors believe that stricter fuel emissions standards will directly benefit EV makers like Lucid Motors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":376877063,"gmtCreate":1619105621752,"gmtModify":1704719803777,"author":{"id":"3573979414766282","authorId":"3573979414766282","authorIdStr":"3573979414766282","name":"MrEmokia","avatar":"https://static.tigerbbs.com/3fff85abf685c5b0f1d554f40e3abea5","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573979414766282"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/376877063","repostId":"1125833707","repostType":4,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376877274,"gmtCreate":1619105689698,"gmtModify":1704719804746,"author":{"id":"3573979414766282","authorId":"3573979414766282","authorIdStr":"3573979414766282","name":"MrEmokia","avatar":"https://static.tigerbbs.com/3fff85abf685c5b0f1d554f40e3abea5","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573979414766282"},"themes":[],"htmlText":"Up ??","listText":"Up ??","text":"Up ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376877274","repostId":"2129380033","repostType":4,"repost":{"id":"2129380033","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1619102180,"share":"https://ttm.financial/m/news/2129380033?lang=&edition=fundamental","pubTime":"2021-04-22 22:36","market":"us","language":"en","title":"It Seems Netflix Has Been Dethroned","url":"https://stock-news.laohu8.com/highlight/detail?id=2129380033","media":"Benzinga","summary":"Netflix Inc (NASDAQ: NFLX) shares fell as much as 11% in after-hours trading after the streaming giant reported a large miss in subscriber numbers in its first-quarter earnings report.","content":"<p><b>Netflix Inc </b>(NASDAQ:NFLX) shares fell as much as 11% in after-hours trading after the streaming giant reported a large miss in subscriber numbers in its first-quarter earnings report. The facts that revenue still grew on a YoY basis along with a strong beat on earnings were not enough to offset the weak number of subscriber additions, especially as management only expects 1 million new subscribers in the undergoing quarter.</p><h4>First-Quarter Figures</h4><p>Revenue amounted to $7.16 billion, slightly topping $7.13 billion expected, resulting in earnings per share of $3.75 that exceed the expected $2.97, as gathered by Refinitiv. Global paid net subscriber additions came at 3.98 million which is significantly below the 6.2 million expected, according to FactSet. This figure seems even more pessimistic compared to a quarterly record of 15.8 million new paying users it gathered during the first three months of 2020.</p><p>Still, the company's revenue grew 24% YoY and was in line with its beginning of quarter forecast. Netflix also delivered a strong beat on earnings compared to Street estimates. Operating income for the quarter came in at $1.96 billion which is more than double $958 million in the year-earlier period. Moreover, as content spending was lower, it resulted in a 27% operating margin which is an all-time high for the first quarter.</p><h4>Netflix is losing subscribers</h4><p>Netflix believes that the shortfall subscriber numbers could be blamed on the ongoing pandemic or more precisely on its smaller pipeline of originals as COVID-19 restrictions forced the company to delay some of its big-name shows and films. It doesn't believe that competition from <b>Walt Disney Company</b>'s (NYSE:DIS) Disney+ and Hulu, <b>AT&T</b>'s (NYSE:T) HBO Max, <b>Apple</b>'s (NASDAQ:AAPL) Apple TV+ , <b>Amazon</b>'s (NASDAQ:AMZN) Prime Video and <b>Comcast Corporation</b>'s (NASDAQ:CMCSA) NBCUniversal's Peacock played a factor in the weak subscriber numbers. But the reality is that Netflix is facing an increasing set of competitors in the streaming space with HBO Max having reached 41 million U.S. subscribers two years ahead of schedule in January this year and Disney+ topping 100 million global subscribers as of early March, ballooning to about half of Netflix's 208 million worldwide subscribers only within a year-and-a-half of its launch.</p><h4>The Key Is The Business Remains Healthy And That It Keeps Growing</h4><p>To respond its competitors, Netflix expects to spend more than $17 billion in cash on content this year. Production is up and running in nearly all of its major markets and While ramping up content spending more than 44% compared with $11.8 billion last year, Netflix is also trying to combat password sharing. Historically, it wasn't concerned about this issue as subscriber growth and stock price were easily offsetting concerns around lost revenue. But, things changed as Netflix has found itself amid intense ‘streaming wars'.</p><p>Netflix's board approved a buyback program to repurchase up to $5 billion in common stock, beginning in 2021 with no fixed expiration date. The program is expected to begin during the quarter.</p><h4>The Winner Of The Streaming Wars Is Sill Unknown</h4><p>While Netflix matures in terms of subscriber growth, its business has also become increasingly efficient from an operating standpoint, despite channeling billions into content creation. After posting its first full-year of positive free cash flow since 2011 last year, it believes it is \"very close to being sustainably\" free cash flow positive. As for 2021, it expects free cash flow to be around breakeven while no longer having to raise external financing for its day-to-day operations. In other words, it's been more than a year that streaming wars intensified and all players are investing heavily to be on the winning side even after the world successfully combats COVID-19.</p><p><i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p>The post It Seems Netflix Has Been Dethroned appeared first on IAM Newswire.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It Seems Netflix Has Been Dethroned</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt Seems Netflix Has Been Dethroned\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-22 22:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Netflix Inc </b>(NASDAQ:NFLX) shares fell as much as 11% in after-hours trading after the streaming giant reported a large miss in subscriber numbers in its first-quarter earnings report. The facts that revenue still grew on a YoY basis along with a strong beat on earnings were not enough to offset the weak number of subscriber additions, especially as management only expects 1 million new subscribers in the undergoing quarter.</p><h4>First-Quarter Figures</h4><p>Revenue amounted to $7.16 billion, slightly topping $7.13 billion expected, resulting in earnings per share of $3.75 that exceed the expected $2.97, as gathered by Refinitiv. Global paid net subscriber additions came at 3.98 million which is significantly below the 6.2 million expected, according to FactSet. This figure seems even more pessimistic compared to a quarterly record of 15.8 million new paying users it gathered during the first three months of 2020.</p><p>Still, the company's revenue grew 24% YoY and was in line with its beginning of quarter forecast. Netflix also delivered a strong beat on earnings compared to Street estimates. Operating income for the quarter came in at $1.96 billion which is more than double $958 million in the year-earlier period. Moreover, as content spending was lower, it resulted in a 27% operating margin which is an all-time high for the first quarter.</p><h4>Netflix is losing subscribers</h4><p>Netflix believes that the shortfall subscriber numbers could be blamed on the ongoing pandemic or more precisely on its smaller pipeline of originals as COVID-19 restrictions forced the company to delay some of its big-name shows and films. It doesn't believe that competition from <b>Walt Disney Company</b>'s (NYSE:DIS) Disney+ and Hulu, <b>AT&T</b>'s (NYSE:T) HBO Max, <b>Apple</b>'s (NASDAQ:AAPL) Apple TV+ , <b>Amazon</b>'s (NASDAQ:AMZN) Prime Video and <b>Comcast Corporation</b>'s (NASDAQ:CMCSA) NBCUniversal's Peacock played a factor in the weak subscriber numbers. But the reality is that Netflix is facing an increasing set of competitors in the streaming space with HBO Max having reached 41 million U.S. subscribers two years ahead of schedule in January this year and Disney+ topping 100 million global subscribers as of early March, ballooning to about half of Netflix's 208 million worldwide subscribers only within a year-and-a-half of its launch.</p><h4>The Key Is The Business Remains Healthy And That It Keeps Growing</h4><p>To respond its competitors, Netflix expects to spend more than $17 billion in cash on content this year. Production is up and running in nearly all of its major markets and While ramping up content spending more than 44% compared with $11.8 billion last year, Netflix is also trying to combat password sharing. Historically, it wasn't concerned about this issue as subscriber growth and stock price were easily offsetting concerns around lost revenue. But, things changed as Netflix has found itself amid intense ‘streaming wars'.</p><p>Netflix's board approved a buyback program to repurchase up to $5 billion in common stock, beginning in 2021 with no fixed expiration date. The program is expected to begin during the quarter.</p><h4>The Winner Of The Streaming Wars Is Sill Unknown</h4><p>While Netflix matures in terms of subscriber growth, its business has also become increasingly efficient from an operating standpoint, despite channeling billions into content creation. After posting its first full-year of positive free cash flow since 2011 last year, it believes it is \"very close to being sustainably\" free cash flow positive. As for 2021, it expects free cash flow to be around breakeven while no longer having to raise external financing for its day-to-day operations. In other words, it's been more than a year that streaming wars intensified and all players are investing heavily to be on the winning side even after the world successfully combats COVID-19.</p><p><i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p>The post It Seems Netflix Has Been Dethroned appeared first on IAM Newswire.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","T":"美国电话电报","AMZN":"亚马逊","AAPL":"苹果","CMCSA":"康卡斯特","DIS":"迪士尼"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129380033","content_text":"Netflix Inc (NASDAQ:NFLX) shares fell as much as 11% in after-hours trading after the streaming giant reported a large miss in subscriber numbers in its first-quarter earnings report. The facts that revenue still grew on a YoY basis along with a strong beat on earnings were not enough to offset the weak number of subscriber additions, especially as management only expects 1 million new subscribers in the undergoing quarter.First-Quarter FiguresRevenue amounted to $7.16 billion, slightly topping $7.13 billion expected, resulting in earnings per share of $3.75 that exceed the expected $2.97, as gathered by Refinitiv. Global paid net subscriber additions came at 3.98 million which is significantly below the 6.2 million expected, according to FactSet. This figure seems even more pessimistic compared to a quarterly record of 15.8 million new paying users it gathered during the first three months of 2020.Still, the company's revenue grew 24% YoY and was in line with its beginning of quarter forecast. Netflix also delivered a strong beat on earnings compared to Street estimates. Operating income for the quarter came in at $1.96 billion which is more than double $958 million in the year-earlier period. Moreover, as content spending was lower, it resulted in a 27% operating margin which is an all-time high for the first quarter.Netflix is losing subscribersNetflix believes that the shortfall subscriber numbers could be blamed on the ongoing pandemic or more precisely on its smaller pipeline of originals as COVID-19 restrictions forced the company to delay some of its big-name shows and films. It doesn't believe that competition from Walt Disney Company's (NYSE:DIS) Disney+ and Hulu, AT&T's (NYSE:T) HBO Max, Apple's (NASDAQ:AAPL) Apple TV+ , Amazon's (NASDAQ:AMZN) Prime Video and Comcast Corporation's (NASDAQ:CMCSA) NBCUniversal's Peacock played a factor in the weak subscriber numbers. But the reality is that Netflix is facing an increasing set of competitors in the streaming space with HBO Max having reached 41 million U.S. subscribers two years ahead of schedule in January this year and Disney+ topping 100 million global subscribers as of early March, ballooning to about half of Netflix's 208 million worldwide subscribers only within a year-and-a-half of its launch.The Key Is The Business Remains Healthy And That It Keeps GrowingTo respond its competitors, Netflix expects to spend more than $17 billion in cash on content this year. Production is up and running in nearly all of its major markets and While ramping up content spending more than 44% compared with $11.8 billion last year, Netflix is also trying to combat password sharing. Historically, it wasn't concerned about this issue as subscriber growth and stock price were easily offsetting concerns around lost revenue. But, things changed as Netflix has found itself amid intense ‘streaming wars'.Netflix's board approved a buyback program to repurchase up to $5 billion in common stock, beginning in 2021 with no fixed expiration date. The program is expected to begin during the quarter.The Winner Of The Streaming Wars Is Sill UnknownWhile Netflix matures in terms of subscriber growth, its business has also become increasingly efficient from an operating standpoint, despite channeling billions into content creation. After posting its first full-year of positive free cash flow since 2011 last year, it believes it is \"very close to being sustainably\" free cash flow positive. As for 2021, it expects free cash flow to be around breakeven while no longer having to raise external financing for its day-to-day operations. In other words, it's been more than a year that streaming wars intensified and all players are investing heavily to be on the winning side even after the world successfully combats COVID-19.This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.comThe post It Seems Netflix Has Been Dethroned appeared first on IAM Newswire.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
