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Netflix beats forecasts but shares fall in after-hours trading

Netflix has topped revenue and earnings expectations for its holiday quarter, but its shares still dropped in after-hours trading.

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New York, USA - 1 September 2022: Netflix app on phone screen, Illustrative Editorial
New York, USA - 1 September 2022: Netflix app on phone screen, Illustrative Editorial. Picture: Alamy

By Camille Bidard

Netflix has beaten Wall Street’s estimates for both revenue and earnings in its holiday quarter results, delivering a stronger performance than analysts had expected.

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Despite that, the company’s shares tumbled by more than 4 percent in after-hours trading, suggesting investors were still left disappointed by the update.

The streaming giant is also reported to remain locked in a bidding war for Warner Bros Discovery, keeping attention on its wider strategy beyond quarterly figures.