Netflix drops on earnings report

  • 📰 CNBC
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Netflix revealed that more than 20 million households have watched its Fyre Festival documentary in its Q1 2019 earnings report.

Netflix fell 1% after reporting its first quarter 2019 earnings after the bell on Tuesday. The company reported quarterly revenue that beat estimates but included light guidance for the following quarter.

Netflix said its Chief Marketing Officer Kelly Bennett will retire this year. Chief Content Officer Ted Sarandos will run both content and marketing in the interim of the search for a new CMO. Netflix reported net cash flow for the quarter of negative $380 million compared to negative $287 million during the same period last year. The company said it now expects its 2019 free cash flow deficit to be higher than the negative $3 billion previously expected, coming in at negative $3.5 billion. Netflix said the larger deficit was due to a change in corporate structure and investments in real estate and infrastructure.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix set to report Q1 2019 earnings after the bellNetflix will report its first quarter 2019 earnings after the bell as more media companies enter the streaming space. Walt Disney puede hacerle pupa a este pequeño....
Source: CNBC - 🏆 12. / 72 Read more »