BUZZ-Netflix falls as weaker Q3 forecast fuels growth concerns
Netflix NFLX | 0.00 |
** Netflix NFLX.O shares fall 8.7% to $67.9 in premarket trading after co forecast Q3 revenue and earnings below Wall Street estimates
** Co sees Q3 rev of $12.86 bln and EPS of 82 cents, below analysts' forecast of $13.01 bln and 84 cents, per LSEG data, raising concerns over its growth profile
** NFLX also said it will cut publication of its "What We Watched" viewing report to once a year starting in Jan 2027, after it stopped reporting qtrly subscriber numbers in 2025
** Pivotal Research sees this decision as "not a great look when investors are (rightly) focused on weakening engagement trends"
** Co reported Q2 revenue of $12.56 billion vs estimates of $12.59 billion
** 52 analysts rate the stock "buy" on average; median PT is $104, as per data compiled by LSEG
** As of last close, NFLX down 20.7% YTD
