Needham Downgrades Netflix to Hold After Third-Quarter Results
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Needham downgraded Netflix to Hold after the streaming company released its third-quarter results. Netflix recorded $12.874 billion in revenue for the quarter ended Sept. 30, up 11.8% from a year earlier. Diluted earnings were $0.87 per share, above the $0.82 analysts expected. Operating margin reached 34.6%, compared with 28.2% a year earlier; expense timing helped Netflix exceed its margin forecast. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
