UPDATE—July 18, 2024: This article has been updated to reflect more recent share price information.

Netflix (NFLX) is set to report earnings for the second quarter of 2024 after the bell Thursday, with investors likely to be watching if the streaming titan can continue to grow subscribers amid its push to expand its sports entertainment offerings.

The company is projected to report revenue of $9.51 billion, according to estimates compiled by Visible Alpha, representing a 16.1% rise over 🔯the year-ago quarter. Net income is expected to come in at $2.1 billion or $4.74 per share, do𓆉wn from the prior quarter, but well above the $1.5 billion or $3.29 per share reported in the same period in 2023.

Key Metric: Subscriber Growth

Netflix investors will be looking to see if the company can continue to build on several quarters of subscriber growth. Netflix reported 269.6 million streaming subscribers in the 澳洲幸运5官方开奖结果体彩网:first quarter of 2024, up 16% from the same period a year earlier.

Netflix's subscriber base has climbed as the company cracked down on password sharing, with J.P. Morgan analysts anticipating subscribers will continue to rise as the company expands its user base internationally and adds new content with its push to offer more sports entertainment. The analysts projected Netflix could add 5 million net new subscribers in the second quarter.

Business Spotlight: Sports Entertainment

Netflix has announced a number of deals in recent months to 澳🎶洲幸运5ꦬ官方开奖结果体彩网:expand its sports entertainment offerings, including Christmas Day National 🌼Football League (NFL) games and World Wrestling Entertainment (WWE) events.

In its earnings call, Netflix could prov𒁃ide more updates on its push into sports, with J.P. Morgan analysts expecting Netflix to add more sܫports content as the firm works to grow its subscriber base and ad sales.

Netflix shares have gained about 32% since the start of 2024, at $642.18 in early trading Thursday ahead of the company's earnings release.