Netflix Inc. (NFLX) is set to release its earnings numbers for the first quarter of 2014 this afternoon after the market closes in New York. The company’s stock has been beaten down by the momentum bust of the opening months of the year, but it still stands at more than double its value this day last year. Given the amount of earnings priced into Netflix, and the non-committal mood of the market, this afternoon’s numbers could bring huge volatility.

Streaming is a booming business, and Netflix is dominating the offerings of competitors. The company is the face of the streaming industry, and is becoming a reasonable alternative to premium cable as it offers more and more original content. This afternoon’s earnings should show off the numbers that investors really care about: subscription adds and cost levels.

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