Netflix earnings Q4 2018

Akio Kon | Bloomberg | Getty Images

Reed Hastings, chief executive officer of Netflix.

Netflix is set to report earnings after the market close Thursday.

Here’s what Wall Street expects:

• EPS: 24 cents, forecast by Refinitiv consensus estimates
• Revenue: $4.21 billion, forecast by Refinitiv consensus estimates
• Domestic membership additions: 1.77 million, according to StreetAccount and FactSet estimates
• International membership additions: 7.54 million, according to FactSet estimates

The quarter is expected to cap an expensive year for Netflix, as the company ramps up content spend and original programming. Projected EPS of 24 cents represents a 73 percent markdown from the third quarter of 2018, and a 42 percent downside from the year-ago quarter.

Revenue projections are in line with recent trends, though, hinting at higher expenditures. Revenue estimates for the quarter mark a 28 percent year-over-year jump.

Netflix previously warned content costs are more heavily weighted in the second half of the year. Streaming incumbents like Netflix and HBO are increasingly banking on original hits to stave off threats from new streaming entrants like Amazon, Disney and AT&T.

Netflix estimated it would add 9.4 million global memberships during the fourth quarter — 1.8 million membership additions in the U.S. and 7.6 million additions internationally. Wall Street analysts were expecting adds to be slightly lower than the company’s projections.

The service has seen considerable growth in emerging international markets like India and Mexico. It’s also been pushing into family and children’s content, and it recently experimented with interactive story formats.

Shareholders have rewarded the company for its aggressive content strategy, sending the stock up more than 30 percent in the first few weeks of 2019. Shares gained 7 percent during a single session earlier this week, after Netflix announced it was raising rates across its streaming plans.

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