TradingKey – As of July 16 ET, Netflix ( NFLX) stock was last at $74.35, up 0.91% on the day, touching an intraday high of $74.68. However, after the company released its second-quarter earnings report, its after-hours stock price plunged 9.05%.
Why Is Netflix Stock Falling?
The core reason for the post-market decline in Netflix’s stock price was that both its second-quarter revenue and third-quarter guidance failed to significantly beat market expectations. According to the earnings report, Netflix’s Q2 revenue was $12.56 billion, up approximately 13% year-over-year, but slightly below the market expectation of $12.58 billion; net income was $3.4 billion, up from $3.13 billion in the prior-year period; and earnings per share was $0.80,…
