Netflix shares fell more than 8% in after-hours trading , as a disappointing second-quarter outlook and leadership changes outweighed otherwise solid first-quarter results. Weak Guidance Sparks Sell-Off Netflix forecast Q2 earnings of US$0.78 per share , below analyst expectations of US$0.84 , while revenue is projected at US$12.57 billion , missing the US$12.64 billion consensus . The weaker guidance raised concerns over near-term growth momentum , triggering a sharp negative market reaction. Strong Q1 Performance Fails to Impress For the first quarter: Revenue rose 16% YoY to US$12.25 billion (above estimates) Earnings surged 86% to US$1.23 per share However, earnings were boosted by a US$2.8 billion one-off termination fee , reducing the quality of underlying growth. Operating margin improved to 32.3% , but still came in below expectations (32.4%) , further dampening sentiment. Rising Costs and Strategic Sh...
KUALA LUMPUR (Jan 18): The FBM KLCI rose 1.99 points or 0.1% while the ringgit strengthened, after U.S. President-elect Donald Trump said the U.S. dollar's strength against the yuan did not bode well for the U.S. economy.
The KLCI closed at 1,665.02 points, as Asian share markets rose. Japan's Nikkei 225 increased 0.43%, while Hong Kong's Hang Seng rose 1.13%.
In Malaysia, Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com that the KLCI's rise was due to the stronger ringgit against the U.S. dollar today. At 4:48pm, the ringgit strengthened to 4.4443 against the U.S. dollar.
“The KLCI is also up in tandem with regional markets," Leong said.
Bursa Malaysia saw 1.88 billion shares, worth RM1.64 billion traded. There were 431 gainers and 366 decliners.
World markets took the cue from Trump's U.S. dollar comment. Reuters reported the dollar's recent weakness deepened, after Trump said the greenback's strength against the Chinese yuan "is killing us".
It was reported Asian stock markets stabilised near three-month highs on Wednesday, helped by Hong Kong and Chinese shares, as investors judged Trump's concerns over a stronger dollar to be beneficial to some of the regional bourses.
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