Netflix Shares Fall as Guidance Disappoints Investors
Netflix gave a forecast for the second quarter that fell short of analysts’ expectations, sending the shares tumbling in extended trading.
The results are the first since Netflix walked away from a contentious battle for control of Warner Bros. in February.
The streaming pioneer also announced that Chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.
Bloomberg's Neil Campling reports. (Source: Bloomberg)
Netflix co-founder Reed Hastings exits
- Netflix slumps as muted forecasts, Hastings exit deepen growth worries CTV News —
- Netflix shares slide after surprise Hastings exit sparks growth concerns CTV News —
- What's Next for Reed Hastings? Bloomberg —
- Netflix cofounder and chairman Reed Hastings to step down from board of directors ABC News —
- Wall Street Remains Mostly Bullish on Netflix Stock Despite Softer Q2 Forecast Variety —