Netflix shares plunged 7% in after-hours trading.
From January through March, Netflix posted diluted earnings of $2.88 per share, compared with Wall Street’s forecast of $2.86. The company posted revenue of $8.162 billion, in line with analyst estimates from Refinitiv.
Netflix serves as a bellwether for the streaming industry, in which growth has slowed as competition has heated up.Looking ahead, Netflix forecast $8.242 billion in revenue and $2.86 in diluted EPS for the second quarter. Wall Street had been projecting $8.476 billion for revenue and $3.05 for diluted EPS.
Netflix serves as a bellwether for the streaming industry, in which growth has slowed as competition has heated up. The company added 1.75 million subscribers in the quarter, missing analyst estimates of 2.06 million additions. A year ago, Netflix lost 200,000 subscribers — its first subscriber decline in more than a decade, sending its stock reeling and resetting Wall Street’s expectations for the sector.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House Speaker Kevin McCarthy on Wall Street to deliver speech to New York Stock ExchangeHouse Speaker Kevin McCarthy will address the state of the economy and is expected to outline how Republicans plan to raise the debt ceiling for a year.
Read more »
Fiscal crisis nears as McCarthy takes debt ceiling plan to Wall StreetThe House speaker is set to outline the party’s new proposal at the New York Stock Exchange, more than a decade after a similar GOP-led standoff hammered U.S. markets
Read more »
House Speaker McCarthy opens next phase of debt ceiling fight with direct pitch to Wall StreetPresident Joe Biden has not budged on his refusal to negotiate with House Republicans over the debt limit.
Read more »
McCarthy seeks to reassure Wall Street amid stalled debt-limit negotiationsMcCarthy took to Wall Street today in his latest effort to rally House Republicans around a strategy to lift the debt limit. “We are seeing in real time the effects of reckless government spending, record inflation and the hardship it causes,” he said.
Read more »