|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's range||391.75 - 403.36|
|52-week range||164.23 - 423.21|
|PE ratio (TTM)||268.42|
|Earnings date||15 Oct 2018 - 19 Oct 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||384.40|
Jul.17 -- Bloomberg's Christine Harvey takes a look at some of the big stories of the day on "Bloomberg Daybreak: Middle East."
Earnings out of Goldman Sachs and testimony from Fed chair Jay Powell will be the big events for investors on Tuesday as markets deal with the fallout from Netflix's disappointing earnings results on Monday.
SINGAPORE (AP) — Asian markets were mostly lower on Tuesday following a mixed day on Wall Street, as tensions over U.S. tariffs overshadowed data suggesting global growth is still on track.
Bloomberg's Christine Harvey takes a look at some of the big stories of the day on "Bloomberg Daybreak: Middle East." (Source: Bloomberg)
"We had a strong but not stellar Q2," Netflix said in a quarterly letter to shareholders. Netflix said it had "over-forecasted" quarterly fluctuations in the pace of new customers. Before the earnings report, Netflix shares had gained 109 percent, making it the second-strongest performer on the S&P 500 index (.SPX).
Netflix also projected about 5 million net new subscriber additions for the third quarter, which fell about 1.3 million short of the number that Wall Street had been expecting. The last time Netflix generated such a brutal reaction was two years ago when the company drastically undershot its forecast by adding only 1.7 million subscribers for the second quarter. The company’s total subscriber base is up 56% since then while quarterly revenue has surged by 86%.
Netflix Inc. missed its own forecasts by more than a million subscribers in the second quarter, slowing the streaming-video site’s strong momentum this year. Shares of Netflix, which had more than doubled in 2018, fell 14% to $344.24 in after-hours trading Monday. Netflix blamed its subscriber miss on faulty internal forecasting and not on business reasons, like recent price increases.