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via finance.yahoo.comBusiness & Companies

Netflix posts higher Q3 profit but cut ad sales guidance pulls shares lower

FROM THE WIRE · FINANCE.YAHOO.COM

Netflix, which announced layoff plans last week, posted a third-quarter profit above Wall Street's expectations, but investors sent shares down after the streaming company lowered its ad sales guidance, prompting worries about slowing revenue growth. Netflix said Tuesday it…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA mega-cap lowering its ad sales guidance raises doubts about revenue growth.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Netflix earned $3.66 billion, or 87 cents per share, for the July-September period.
  2. 02Revenue rose 12% to $12.87 billion.
  3. 03The company lowered its estimate for its advertising business.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Netflix, Inc.NFLXStock68.69 USDMarket closedtoday -1.66%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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