Netflix Faces One-off Tax Headwind

4 days ago

Valerie Titel

"Netflix down 6.5%. Nathan, a surprise $600 million tax dispute with Brazil cut into its earnings, which meant its operating income came in less than expected. Executives were quick to say they don't expect this issue with Brazil to have a meaningful impact on quarters to come. It was just a one-off charge. But outside of this, the earnings looked pretty decent."

Netflix reported a 6.5% decline due to a one-off $600 million tax dispute in Brazil, though management reassured investors that the issue is isolated and future quarters should remain strong.

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