Netflix shares fell 4% in after-hours trading following fourth-quarter revenue forecasts that missed analyst estimates. However, the company reported third-quarter earnings of 87 cents per share, beating the expected 82 cents. Third-quarter revenue reached $12.9 billion, a 12% year-over-year increase that matched Wall Street expectations.
Shares fell 4.1% after hours despite earnings beating analysts' expectations, as the company lowered its free cash flow target and forecast fourth-quarter earnings below market estimates.
Read the full storyNetflix shares extended losses to 7% in after-hours trading as weak fourth-quarter guidance prompted Wall Street analysts to question the company's long-term growth catalysts.