Netflix is moving higher ahead of earnings (NFLX)

Netflix is rising as investors look ahead to the company's earnings.

The streaming site is set to release its earnings after close of trading on Monday. Investors are expecting earnings of $0.16 per share, or $123.5 million before taxes, from $2.76 billion in revenue, according to data from Investing.com. Netflix's share price is up 1.03% in early Monday trading.

The company is the first of the FAANG stocks to report earnings for the second quarter. The FAANG stocks — Facebook, Amazon, Apple, Netflix and Google — have had a rollercoaster year thus far, propping up the tech-heavy Nasdaq 100 for most of the year, but not being immune to week-long slides that temper gains.

Subscriber growth will be a key indicator to look for in Netflix's earnings. Because the company doesn't run advertisements on its platform, subscriptions are one of the only ways the company brings in money.

Last quarter, the company added 1.42 million subscribers which was lower than both company and Wall Street estimates. Shares of Netflix fell about 4% after the earnings were released.

Netflix is upbeat about its future. The disappointing first quarter subscriber growth can be attributed to a delay in big content releases, according to the company. A new season of House of Cards was delayed to a second quarter release, which hurt first quarter growth but should help the second quarter.

The third quarter has no major releases, but the fourth quarter should be good for the company. Netflix is releasing a new season of "Stranger Things" and "Narcos", and launching the Will Smith film "Bright" and the Marvel series "The Punisher."

UBS thinks other Wall Street investors are too bearish on the stock and says there could be a price jump later this year. The bank is basing this prediction on the new releases in the fourth quarter and says that a quiet third quarter is being weighted too heavily by analysts.

Netflix is up 26.38% this year and is trading at 163.08 on Monday.