BUZZ-Netflix falls as weaker Q3 forecast fuels growth concerns

Netflix

Netflix

NFLX

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** 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