Netflix Shares Fall on Weaker Fourth-Quarter Revenue Guidance
Netflix reported third-quarter revenue of $12.87 billion, up 11.8% year over year, and net income of $3.66 billion. Its fourth-quarter revenue forecast of $13.4 billion was slightly below Wall Street expectations.
Netflix reported third-quarter revenue of $12.87bn, an 11.8% increase year-on-year, and net income of $3.66bn. Operating margins also exceeded expectations, reflecting continued pricing power and cost discipline. For the fourth quarter, Netflix projected revenue of $13.4bn, slightly below Wall Street…