Netflix blames tax dispute in Brazil
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Looking ahead to the fourth quarter, Netflix expects its growth to continue, calling for revenue to increase to 16.7% to $11.96 billion. It also sees $5.45 at EPS, reflecting higher content spend in the fourth quarter. Those figures compared favorably with the consensus at $11.9 billion in revenue and $5.43 in EPS.
Netflix saw shares dip 6% pre-market due to a one-time tax issue in Brazil. But with strong content and growing ad revenue, it remains a solid investment.
Netflix, Inc. stock dropped after a Brazilian tax expense hit margins, but revenue and engagement remain strong. Click for more on NFLX Q3 earnings.
Netflix Inc. (NFLX.O) missed Wall Street's third-quarter profit projections due to an unexpected tax bill in Brazil.
Netflix shares sank on Tuesday after the streaming television powerhouse reported quarterly profit that fell short of market expectations.