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: The FBM KLCI closed down 0.5% or 9.16 points to 1,740.09 on profit taking as well as a lack of window dressing. TA Securities Holdings Bhd senior technical analyst Stephen Soo said the index’s performance for the day fell below the firm’s expectations, and the lack of upside in window dressing signalled continued weak sentiment. “The local stock market is underwhelming. We expected some upside in window dressing but that did not happen. The subdued momentum indicated that sentiment is still weak,” Soo told the edgemarkets.com. However, Soo said TA Securities foresees a rebound in the FBM KLCI next week following reports that Malaysia Rail Link Sdn Bhd (MRL), the operator of the East Coast Rail Line (ECRL), could announce the breakdown of its tenders as early as early April. “The announcement of contractors that will take part in the ECRL project will trigger the local stock market. It is a bit quiet now but things could (shake up) soon,” he sa...