Netflix shares tank 7% as streamer reports slower…
Netflix issued a weaker-than-expected forecast for fourth-quarter revenue on Tuesday, days after the streaming pioneer laid off 6% of its workforce and changed two of its top programming executives.
Shares of Netflix fell practically 7% to $63.99 in after-hours trading. The stock had fallen more than more than 40% in a yr before the earnings report.
Third-quarter income rose 11.8% to $12.87 billion, in line with Wall Street forecasts, but the bottom fee of increase in practically three years. The company forecast fourth-quarter web income of $2.79 billion and EPS of 67 cents,…
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