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Netflix CFO Admits He's 'Not Satisfied' With View Hour Growth as NFLX Bets on Brad Pitt's Cliff Booth Return, Narnia and NFL Games

ResultsRead the original at Benzinga
Bad for NFLX

Netflix forecast fourth-quarter sales and earnings per share below estimates, and leaders said viewing-hour growth is too slow in its biggest market. A third-quarter earnings-per-share beat and major upcoming shows and games are positives, but the weaker forecast and slow growth concern carry more weight.

NFLX · Netflix Inc.

AI read · Bad for NFLX

The AI's read

That leaves Netflix needing its planned shows and football games to bring people back for more viewing. The U.S. and Canada provide about 44% of sales, and company leaders said that region is not growing as quickly as they want. Netflix also cut about 1,000 jobs and named a new content chief. The third-quarter earnings-per-share result beat estimates, but the weaker next-quarter forecast and slow viewing growth carry more weight than plans whose results are not yet known.

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