Wall Street watches Netflix after closing bell

Oct. 21 (UPI) — Streaming giant Netflix is set to reveal Tuesday its third-quarter earnings after the closing bell on Wall Street.

Netflix is expecting more than $11 billion in revenue at about $6.97 per share for its third quarter.

“Q3 saw Netflix making progress on a number of non-core initiatives including podcasts, physical locations, and games,” Mike Proulx, vice president and research director at Forrester, told CNBC on Tuesday.

Netflix officials recently revealed the company will no longer offer investors a quarterly financial update.

Netflix is viewed as a “moderate” buy by analysts after it showed significant earnings during this year’s first and second quarter largely due to higher subscription fees, new user sign-ups and ad revenue increases.

On Tuesday, Proulx inquired if Netflix will find itself spread too thin as the company advances its diversification strategy.

“Consumers choose Netflix because of its quality content,” he said. “If the company goes too broad to become all things entertainment, it risks diluting its core.”

Meanwhile, Netflix executives were slated to hold a call with analysts before the close of business day.