Netflix’s latest quarterly earnings fell short of Wall Street expectations, marking the end of a six-quarter streak of surpassing analyst projections. The streaming giant attributed the $619 million earnings shortfall to an unforeseen tax dispute in Brazil. Despite the setback, Netflix highlighted its robust lineup of original TV series and films, which sustained audience engagement and drove a combination of subscription fees and ad revenue, matching analysts’ revenue forecasts of $11.5 billion. However, investors remained unconvinced, as Netflix’s shares dropped approximately 6% in extended trading.
Netflix blames tax dispute in Brazil for rare quarterly earnings letdown
