Netflix stock falls after Q3 earnings miss estimates, operating profit takes a hit

Netflix (NFLX) reported third quarter earnings that missed analyst expectations on both revenue and profit, sending shares over 8% lower in trading on Wednesday. Netflix reported revenue of $11.51 billion, just shy of Bloomberg consensus estimates of $11.52 billion and slightly below the company’s own guidance of $11.53 billion. That compares to $9.82 billion in the same quarter last year. Earnings per share came in at $5.87, missing analyst expectations of $6.94 and Netflix’s internal forecast of $6.87, ...