Netflix faces headwinds amid earnings tax dispute

1 day ago

Tim Stac

"yeah, I mean, we talked through two names in the green. Let's talk about one that ended in the red. This is Netflix, ticker NFL, the third biggest decliner in the S&P 500, shedding more than 8% this week. It lost 10% on Wednesday after, of course, we know its earnings revealed a tax dispute with Brazil, which cut into its third quarter earnings. Of course, this is a company where a lot of investors are used to upside surprises here. So, this was definitely uh drag on the company this week. And of course, this really just raises broader growth concerns for investors that are used to positivity here for the stock. But shares of Netflix still up at 23% this year."

The segment reviews Netflix's disappointing performance, highlighting an 8% decline driven by a 10% drop on Wednesday, which was attributed to a tax dispute with Brazil affecting earnings. Broader growth concerns are emerging despite a 23% year-to-date gain.

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