Netflix Earnings and Tax Dispute Concerns

4 days ago

Tim Stenovic

"Netflix taking a hit down about 9.9% right now. This after the company said yesterday that there was a tax dispute with Brazil that cut into thirdarter earnings. It raised growth concerns among investors. Operating income came about $400 million below the company's forecast and analyst estimates. Revenue failed to beat Wall Street estimates, too. And then last night on the earnings call, Ted Sarandos, the co-CEO of Netflix, uh I don't know, is it fair to say he ruled out purchasing Warner Brothers Discovery? It sounded like he did. He did, but there's always a butt. There's always a butt. I mean, maybe he'll maybe he'll go for the studio portion of it. We shall see."

The Netflix commentary centers on its recent earnings miss, tax dispute in Brazil, and cautious outlook as indicated by co-CEO Ted Sarandos. The discussion reflects significant downward pressure with operating income and revenue underperforming forecasts, causing growth concerns.

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