Netflix earnings forecast disappoints Wall Street, shares tumble
Yahoo Finance ·
STORY::: Netflix Netflix stock plunged close to 9% in after-hours trading on Thursday after it forecast third-quarter revenue and earnings below Wall Street targets. The streaming giant said it expected close to $12.9 billion in revenue from July through September, lower than analyst estimates. For the just-ended quarter, revenue totaled just under $12.6 billion, roughly in line with projections. In its quarterly letter to shareholders, Netflix said that its financial performance "remains solid" and that it's on track to meet objectives for the year. The company said it would cut its twice-yearly release of a viewing-hours report to once a year from January to "keep the focus on our primary financial metrics — revenue and operating profit." It stopped publishing quarterly subscriber numbers in 2025. Netflix is facing competition from all corners of the entertainment industry, from traditional media companies to mobile viewing apps. The firm is working to grow with advertising, live events and video games.
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