In the current quarter Netflix forecast earnings per share of 78 US cents, less than the 84 US cents predicted by Wall Street. Revenue projections for the current quarter were also tepid. Netflix said revenue would be US$12.57 billion in the three months ending in June, compared with estimates of US$12.64, according to data compiled by Bloomberg. The shares fell about 9% in extended trading after the news.
(April 17): Netflix Inc gave a forecast for the second quarter that fell short of analysts’ expectations, sending the shares tumbling in extended trading.
The streaming pioneer also announced that chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.
