This Week: Netflix and American Airlines results; home sales
Apr 17, 2022, 9:10 AM | Updated: 9:11 pm
A look at some of the key business events and economic indicators upcoming this week:
BINGE THIS
Netflix serves up its latest quarterly snapshot Tuesday.
The video streaming service giant is expected to report that its first-quarter earnings fell and revenue increased from a year earlier. While Netflix delivered overall earnings and revenue growth in 2021, the company picked up just 18.2 million worldwide subscribers last year, its slowest annual growth in five years. The slowdown in 2021 followed a blockbuster 2020, when Netflix gained more than 36 million subscribers.
HOUSING MARKET BAROMETER
The National Association of Realtors issues its latest monthly snapshot of U.S. home sales Wednesday.
Economists predict sales of previously occupied U.S. homes slowed to a seasonally adjusted annual rate of 5.73 million properties last month. That would follow an annual pace of 6.02 million homes in February, when sales fell as competition for a near-record dearth of properties on the market and rising mortgage rates stymied would-be buyers.
Existing home sales, in millions, seasonally adjusted annual rate:
Oct. 6.19
Nov. 6.33
Dec. 6.09
Jan. 6.49
Feb. 6.02
March (est.) 5.73
Source: FactSet
STILL IN THE RED
Wall Street expects that American Airlines’ latest quarterly report card will show less red.
Analysts predict the company will report Thursday that its loss narrowed in the first quarter from a year earlier as its revenue surged. While not back to pre-pandemic levels, airline bookings are surging ahead of the summer travel season. At the same time, airlines are facing higher costs for fuel and labor. American has been adding workers after struggling with its operations at times last summer and fall.
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