Netflix Shares Slump After Forecast

Despite reporting a slight beat in first-quarter revenue, Netflix's outlook for the coming months failed to impress Wall Street analysts.

The streaming giant is facing growth concerns following the collapse of its proposed merger with Warner Bros.

Discovery.

Reed Hastings, who has led the company for nearly 30 years, will exit the board at a pivotal moment as Netflix pivots toward mobile gaming and vertical video feeds.

Investors are now questioning the company's next major growth driver as competition from TikTok and other platforms intensifies.