It has tested the green support line three times since it went IPO. Last 7 trading sessions were all red with below-average volume. If the stock decides to move up from this level, it will need to break the $32 zone as a lot of buy/sell activity took place there. Today, the company raises more funds for its Sports venture, which is a good sign as investors believe in its future prospects. Recently, a multi-year deal with Nickelodeon was signed as well.
Q2 results:
$932.5M revs, 51% increase compared to last year
$200.7M operating loss with 22% loss margin compared to 24% of last year
$316.9M net loss
67.1M subscribers, 75% increase compared to last year (66.2M are paying members)
Company has $2bn cash
Company is increasingly investing in channel marketing, content promotion, branding as well as R&D
CEO from the conference call:
"We believe we are well on track to execute on our corporate strategy and generate long-term sustainable value to our shareholders."
Q3 guidance:
$985.3M - 1.03bn revs
Q2 results:
$932.5M revs, 51% increase compared to last year
$200.7M operating loss with 22% loss margin compared to 24% of last year
$316.9M net loss
67.1M subscribers, 75% increase compared to last year (66.2M are paying members)
Company has $2bn cash
Company is increasingly investing in channel marketing, content promotion, branding as well as R&D
CEO from the conference call:
"We believe we are well on track to execute on our corporate strategy and generate long-term sustainable value to our shareholders."
Q3 guidance:
$985.3M - 1.03bn revs