Netflix forecast a second consecutive quarter of slowing sales growth, feeding investor anxiety about the streaming giant’s future.
The company projected revenue of $12.9 billion in the current quarter and earnings of 82 cents a share, both a little shy of analysts’ expectations. The shares fell as much as 9% in after-hours trading.Second-quarter results were in line with Wall Street’s consensus, but most of the attention has been on future performance.
Shares in Netflix have declined more than 40% over the last year, as the company’s pursuit of Warner Bros. Discovery Inc. and subsequent financial results have caused investors to worry that the leader in streaming has lost momentum.
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