This Week: Netflix earns, Tesla earns, US home sales
Oct 17, 2022, 5:10 AM | Updated: 5:59 am
A look at some of the key business events and economic indicators upcoming this week:
STREAM THIS
Netflix serves up its third-quarter snapshot Tuesday.
Wall Street predicts the streaming service pioneer will report that its earnings fell from a year earlier, even as revenue increased. Netflix is under pressure to retain or woo back users after losing 1.2 million subscribers in the first half of this year. The company is debuting a less expensive, ad-supported alternative to its commercial-free video streaming service next month.
ON THE ROAD
Wall Street expects another solid quarterly report card from Tesla.
Analysts project the electric vehicle maker will report Wednesday that its earnings and revenue increased in the third quarter from a year earlier. That would echo the company’s results in the first half of this year. Earlier this month, Tesla’s sales jumped 35% in the July-September period compared to the second quarter as its huge factory in China resolved supply chain issues and pandemic restrictions eased.
HOUSING MARKET BAROMETER
The National Association of Realtors delivers its September tally of U.S. home sales Thursday.
Economists predict sales of previously occupied U.S. homes slowed for an eighth consecutive month in September. Sharply higher mortgage rates have discouraged house hunters, even as the inventory of homes for sale has begun to rise.
Existing home sales, in millions, seasonally adjusted annual rate:
April 5.60
May 5.41
June 5.11
July 4.82
Aug. 4.80
Sept. (est.) 4.66
Source: FactSet
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