Netflix Stock Drops 9% as Q3 Revenue Guidance Falls Short of $13B Estimate

NFLX1.20%
Netflix stock fell more than 9% after the company released weaker-than-expected third-quarter guidance, disappointing investors despite a solid second-quarter earnings report. Netflix reported Q2 revenue of $12.56 billion, slightly below analyst expectations of $12.58 billion, with earnings per share of $0.80, exceeding the consensus estimate of $0.79. However, the company's Q3 outlook proved disappointing, with projected revenue of approximately $12.86 billion versus Wall Street's forecast of $13 billion, and projected earnings per share of $0.82 compared to analyst expectations of $0.84, according to Netflix.
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