Business Corpus: Netflix Has Target On Its Back Ahead Of Quarterly Earnings ReportSubscription video-on-demand leader Netflix has a lot to prove with its third-quarter earnings report, set for release after the market close on Tuesday. The post Netflix Has Target On Its Back Ahead Of Quarterly Earnings Report appeared first on Investor's Business Daily.

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Subscription video-on-demand leader Netflix (NFLX) has a lot to prove with its third-quarter earnings report, scheduled for release after the market close on Tuesday.

Netflix stock has struggled since the company disappointed with its second-quarter subscriber numbers and guidance on July 16.

Netflix peaked at 423.21 on June 21. It retreated to its 200-day moving average during Wednesday's stock market bloodbath. Netflix cut below that key support level on Thursday. It fell an additional 1.5% to 321.10 on the stock market today.

The internet television network said it expects to add 5 million new subscribers in the current quarter, bringing its total to 135.14 million worldwide. Netflix guided to 650,000 new subscribers in the U.S. and 4.35 million in international markets.

It forecast earnings per share of 68 cents on sales of $3.99 billion in the September quarter. Wall Street's consensus estimates are in line with that guidance. In the year-earlier quarter, Netflix earned 29 cents a share on sales of $2.98 billion.

Rival Video Services Preparing To Join The Fray

Netflix's latest earnings report comes as a host of major companies are gearing up for rival streaming video services. Those competitors include Apple (AAPL), AT&T's (T) Warner Media, Walmart (WMT) and Walt Disney (DIS). They will join current competitors Amazon.com (AMZN), Hulu and more.

CNBC reported Wednesday that Apple plans to offer original video content for free to users of its hardware products. At the same time, it will push paid subscriptions to digital video services from legacy media companies through its TV application for iOS devices, such as the iPhone, iPad and Apple TV set-top box. Apple will debut its original video and revised TV app early next year, CNBC said.

Apple also is looking for "tent-pole" franchises that could serve as linchpins to a paid Netflix-like subscription service sometime later, CNBC said.

Warner Media already has a major subscription video-on-demand service in HBO, but is planning to launch another streaming video service in fourth quarter 2019. It will feature Warner Bros. movies and TV shows. The company announced the new service on Wednesday, but was light on details.

Retailer Walmart has teamed with movie studio MGM to create original series for Walmart's Vudu streaming video platform. Variety reported Sunday that Walmart will use the original content for a free, ad-supported video service.

Media giant Disney plans to launch its direct-to-consumer video service in late 2019. It will feature new and catalog Disney, Pixar, Marvel and "Star Wars" content.

Hulu Under Disney Likely To Remain Also-Ran Against Netflix

Netflix Outperforming Rivals In Customer Retention, Report Says

The post Netflix Has Target On Its Back Ahead Of Quarterly Earnings Report appeared first on Investor's Business Daily.