Reported about 9 hours ago
Netflix reported disappointing Q3 earnings, with revenue and profit falling short of analyst expectations, leading to a drop of over 10% in its stock price. Despite earning $11.51 billion in revenue and $5.87 per share, which were both below forecasts, the company remains optimistic for Q4, anticipating higher revenue and earnings. Operating margins took a hit due to unexpected expenses from a tax dispute in Brazil, yet Netflix's robust content slate continued to attract viewers, paving the way for future growth, particularly in advertising revenue.
Source: YAHOO