Netflix Shares Fall 5.2% at Midday After Ad Forecast Cut

The stock had fallen about 6% in premarket trading. For the quarter ended Sept. 30, Netflix earned $0.87 per diluted share, above the $0.82 analysts expected. Revenue rose 11.8% from a year earlier to $12.874 billion, roughly matching estimates. Operating margin rose to 34.6% from 28.2% a year earlier. The timing of expenses helped Netflix exceed its operating-margin forecast. For the fourth quarter, Netflix projected $13.442 billion in revenue, below a $13.51 billion analyst estimate, and earnings of $0.67 per share.

Source: TokenPost