Lates News

Netflix (NFLX.O) reported third-quarter earnings that beat Wall Street expectations, but the company expects revenue growth to slow for a fourth consecutive quarter. This outlook could further heighten market concerns about the operating performance of the world's leading streaming platform. Netflix's third-quarter revenue was $12.9 billion, in line with Wall Street expectations. The company expects fourth-quarter revenue to reach $13.4 billion, below analyst forecasts. Its revenue growth has slowed from 17.6% in the fourth quarter of last year and is expected to fall further to 11.5% in the fourth quarter of this year. Netflix blamed the revenue shortfall on its advertising business, expecting revenue from that business to be $300 million less than the company had originally anticipated. After the earnings report was released, Netflix shares fell as much as 7%.