Netflix Loses $14 Billion In Market Value
- 3 years ago
On Wednesday, Netflix sank as much as 6%.
The dip came after Netflix missed expectations for third-quarter subscriber growth and profits.
The streaming titan added 2.2 million subscribers over the three-month period, less than Wall Street's 3.3 million estimate.
According to Business Insider, Netflix revenue beat expectations, earnings per share of $1.74 missed the $2.13 Street estimate.
The stock tumble saw as much as $13.9 billion erased from Netflix's market cap.
The dip came after Netflix missed expectations for third-quarter subscriber growth and profits.
The streaming titan added 2.2 million subscribers over the three-month period, less than Wall Street's 3.3 million estimate.
According to Business Insider, Netflix revenue beat expectations, earnings per share of $1.74 missed the $2.13 Street estimate.
The stock tumble saw as much as $13.9 billion erased from Netflix's market cap.