Netflix misses earnings targets after tax dispute in Brazil
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Netflix reported third-quarter earnings that fell short of Wall Street expectations, primarily due to a $619 million tax dispute with Brazilian authorities. The company posted a net income of $2.5 billion and earnings-per-share of $5.87, while revenue matched forecasts at $11.5 billion. For Q4, Netflix anticipates revenue of $11.96 billion and earnings-per-share of $5.45, slightly above analyst predictions. The streaming service is focusing on growth through advertising and video games, despite facing stiff competition from other platforms.
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Source: Reuters The copyright of this article belongs to the original author/organization.
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