Netflix stock falls as earnings forecast disappoints, company says it will give fewer engagement updates

Netflix reported second-quarter results that largely met analyst expectations, with revenue of $12.56 billion representing 13% year-over-year growth and net income of $3.40 billion, or 80 cents per share. The company attributed revenue increases to membership expansion, subscription price adjustments implemented earlier in the year, and growing advertising revenue. However, the stock declined more than 7% in subsequent trading as investors reacted negatively to the company’s earnings fore