WS #16402
Netflix shares fell approximately 5% after Q3 revenue growth slowed and Q4 forecasts missed Wall Street expectations, prompting analyst price target cuts. The company is also overhauling its programming units. Compounding the pressure, negotiations for exclusive Xbox film and TV rights collapsed after Xbox demanded $800 million, significantly higher than Netflix's $500 million offer. This signals intensifying competition for content and higher costs for streaming platforms.
Tech & Media Earnings
Netflix shares fell approximately 5% after Q3 revenue growth slowed and Q4 forecasts missed Wall Street expectations, prompting analyst price target cuts. The company is also overhauling its programming units. Compounding the pressure, negotiations for exclusive Xbox film and TV rights collapsed after Xbox demanded $800 million, significantly higher than Netflix's $500 million offer. This signals intensifying competition for content and higher costs for streaming platforms.