Netflix shares tank on weak forecast as fears of…
Netflix provided third-quarter income and earnings projections on Thursday that hovered below Wall Street targets and said it will cut back the quantity of data it discloses on viewing hours as the streaming video pioneer seeks new avenues of growth in a aggressive media panorama.
Shares of Netflix fell practically 8% in after-hours trading to $68.45.
The company said it anticipated $12.86 billion in income from July through September and diluted earnings per share of 82 cents. Analysts had forecast $13 billion in income and diluted EPS of 84 cents, according to…
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