Netflix stock drops after earnings miss estimate. Why some are blaming Elon Musk for the plunge
Netflix shares fell nearly 7% on Tuesday after the company missed its third-quarter earnings estimate. Netflix (NFLX) missed analyst expectations on both revenue and profit. The streaming giant cited an ongoing dispute with Brazilian tax authorities as a reason for the miss.
Netflix revenue and earnings
Netflix reported a revenue of $11.51 billion. According to a Yahoo Finance report, it fell short of Bloomberg consensus estimates of $11.52 billion and the company’s own estimate of $11.53 billion.
