Netflix hits subscriber mark but …
Plus, Telsa to open Superchargers to other cars & United Airlines revenue tops estimates
Hello there,
Netflix (NFLX) reported that it added 1.5M paid subscribers last quarter - less than the 4M it added in the previous quarter.
Why this matters: Corona was good for Netflix but are they losing steam now that everyone is off their devices? For context - the company added 16M subscribers in the first quarter of 2020 (peak lockdown). It recently confirmed that it was pushing into the gaming space as a new content category, with potential games included in Netflix subscriptions at no additional cost. Is gaming the new frontier for Netflix? (CNBC)
Telsa to open Superchargers to other cars
Tesla (TSLA) CEO, Elon Musk, said that the company’s network of fast-charging stations for its electric vehicles will soon be open to other types of electric vehicles in 2021.
Why this matters: Elon Musk knows that sharing is caring and sharing can lead to other nice things like more revenue. There are many ways that Telsa could benefit from opening up its charging stations - owners of other types of EVs could pay membership fees (which Telsa owners don’t) or the company could tap into government funding such as grants, tax credits, rebates, or green energy credits which it can sell to companies. The possibilities are endless. (CNBC)
United Airlines revenue tops estimates
United Airlines (UAL) earnings are in and the company has reported its sixth consecutive quarterly loss but had revenue that quadrupled & topped expectations.
Why this matters: Even though the Delta variant of the Coronavirus is spreading like wildfire, theU.S. travel market has nearly recovered to pre-pandemic levels as more people fly for vacation or to visit friends and family. United is banking on this return to pre-pandemic levels as last month, the company unveiled its largest-ever aircraft order for 270 jets to boost its domestic capacity and better compete for both premium and low-cost travel. (Yahoo Finance)
Another earnings season has been upon us, and we can’t really call it quits without the Big Banks. Have you enjoyed the Bank gains, are you riding the greens out? Are you bullish?
That’s it from us.
See you tomorrow.