All eyes will be on global streaming platform’s Netflix (NFLX: NASDAQ) subscriber numbers when the company reports second quarter earnings on 19 July.

The last set of subscriber additions, 1.75 million in the first three months of 2023, disappointed investors and caused its shares to fall 10% on the news.

Netflix’s shares have since recovered and are now trading around the $433 mark, up 135% over the past year.

There is more scope for positive or negative surprises on this metric as the company has stopped giving guidance on it.

Despite the downward spiral in first-quarter subscriber numbers, Netflix has reaffirmed it is ‘on track’ to meet full year 2023 financial objectives, forecasting revenue of $8.2 billion up 3% year-on-year.

Netflix also said it was going to launch a password-sharing crackdown starting with the US in May this year.

Analysts at US banking giant Goldman Sachs (GS:NYSE) believe if the US streaming services company can get this right then it can ‘grow its revenue by 55% to about $49 billion in 2025, as well as grow its 2025 GAAP earnings per share to the $22-$27 range’. Netflix earned $9.95 per share in 2022.

Goldman’s estimates are driven by the assumption that Netflix can convert 70 million of its estimated 100 million password sharers into full subscribers, either by adding another household to an account for $8 or via an ad-based subscription.

Additionally, Goldman expects Netflix to grow its core subscriber base by about 2%.

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July 14: UnitedHealth, JP Morgan, Wells Fargo, BlackRock, Citigroup, State Street, LM Ericsson,

July 17: Equity Lifestyle, FB Financial, TomTom

July 18: Bank of America, Novartis, Morgan Stanley, Prologis, Charles Schwab, Goldman Sachs, PNC Financial, Bank of NY Mellon, Swedbank, Omnicom, JB Hunt, Steel Dynamics, Hancock Whitney, PacWest, Bank First National, Mercantile

July 19: Netflix, IBM, Elevance Health, US Bancorp, Haliburton, Equifax, Nasdaq, United Airlines Holdings, Texas Capital

July 20: J&J, Abbott Labs, Philip Morris, Blackstone, Marsh McLennan, Infosys, American Airlines, Tenet Healthcare, Crocs, Scholastic

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