Netflix (NASDAQ: NFLX) is set to report second-quarter 2024 results on Jul 18. For the second quarter of 2024, Netflix forecasts revenues to increase 16%, which equates to 21% growth on a foreign exchange (F/X) neutral basis due to price changes in Argentina and the devaluation of the local currency relative to the U.S. dollar. The company anticipates total revenues to be $9.491 billion, projecting growth of 15.9% year over year. The Zacks Consensus Estimate for revenues is pegged at $9.53 billion, higher than the company's expectation. Netflix projects earnings of $4.68 per share, indicating growth of 42.2% year over year. The Zacks Consensus Estimate for the same is pegged at $4.70 per share, currently higher than the company's expectation. The estimate has been unchanged over the past 30 days. The company's second-quarter results are expected to benefit from its diversified content portfolio, which involves heavy investments in the production and distribution of localized and foreign-language content. NFLX Estimate Movement Image Source: Zacks Investment Research Earnings Surprise History In the last reported quarter, the company delivered an earnings surprise of 17.07%. The company's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, the average negative surprise being 9.29%. Image Source: Zacks Investment Research Earnings Whispers Our proven model does not conclusively predict an earnings beat for Netflix this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. NFLX has an Earnings ESP of 0.00% and a Zacks Rank #2 at present. Factors Shaping Upcoming Results Netflix anticipates a seasonal decline in paid ...