Several notable names in the streaming and entertainment sector, including Fubotv Inc (NYSE:FUBO), are trading lower in sympathy with Netflix Inc (NASDAQ:NFLX) after the company reported first-quarter earnings results and guided for a decline in global streaming paid memberships.
Netflix reported quarterly earnings of $3.53 per share which beat the analyst consensus estimate of $2.90. Netflix also reported quarterly sales of $7.87 billion which missed the analyst consensus estimate of $7.93 billion by 1%.
Netflix sees second-quarter revenue of $8.053 billion, below the analyst consensus estimate of $8.21 billion. Netflix also sees EPS of $3.00, below the analyst consensus estimate of EPS of $3.01. Netflix also guided for second-quarter global streaming paid memberships of 219.64 million, which represents a decrease of 2 million from the first quarter.
According to data from Benzinga Pro, FuboTV is trading lower by 4.83% at $5.32 in Tuesday's after-hours session.
