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Netflix shocks Wall Street with earnings miss, weak 3rd quarter guidance

Jul 16, 2020 - Axios.com
Board and Executive Moves

Netflix's stock was down more than 12% in after-hours trading on Thursday after the entertainment giant said it missed analyst expectations on earnings-per-share and added fewer subscribers than expected during the second quarter.

Why it matters: Netflix was supposed to be a safe bet for investors this quarter. Third-party measurement companies like Nielsen and Parrot Analytics suggested throughout the quarter that the entertainment giant was pulling ahead of competitors in the U.S. in te...