PREVIEW: Netflix dips ahead of earnings, growth outlook in focus

** Netflix NFLX.O shares dipping 0.8% to $69.28 on Tues ahead of qtrly results due after the bell, as investors eye its growth outlook and content strategy under new leadership

** Streaming giant expected to post a ~12% yr/yr rise in Q3 rev to $12.87 bln and adj EPS of $0.82, vs $0.59 a yr-ago, per LSEG

** In July, NFLX's Q3 forecast disappointed Wall Street, and co said it would cut back on disclosing viewing hours

** Upcoming results follow the recent appointment of former Disney DIS.N exec Peter Rice as new content chief and layoffs of about 6% of its workforce, as NFLX grapples with stiff competition for viewers from legacy rivals and free platforms such as YouTube and TikTok

** Stock has fallen ~26% YTD vs a ~14% rise for the Nasdaq .IXIC; it recently traded at a forward PE of 19, well below its five-yr avg of 31, per LSEG data

** Of 51 analysts, 37 rate the stock "strong buy" or "buy", 12 rate "hold" and 2 recommend "sell"

** Median PT of $90 down from $95 a month ago and $100 on Jul 20