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 (Feb 20): The FBM KLCI fell by a marginal 1.33 points or 0.07% to close at 1,855.99 today as investors took profit after yesterday’s gains.
The benchmark index’s softer finish was in line with the lower trend in other Asian markets. Japan’s Nikkei closed 1.01% lower, Hong Kong’s Hang Seng Index 0.78% lower, and South Korea’s KOSPI 1.13% lower.
Malacca Securities Sdn Bhd head of research Victor Wan said the profit taking was "very much expected" after most Asian stocks traded positively yesterday.
“We have recovered quite a substantial bit after the recent selldown earlier in February,” Wan told the theedgemarkets.com.
“The market’s performance in the near term has got to depend on the corporate earnings announcements this month,” he said. “Last week we saw an encouraging set of economic data, and now we have to see if these data will be reflected in the corporate earnings as well.
Bursa Malaysia saw a total of 2.28 billion shares, worth RM2.1 billion, traded today.
There were 409 gainers versus 556 losers, while 346 counters remained unchanged.
The gainers were led by Nestle (M) Bhd while Hengyuan Refining Co Bhd was the biggest loser.
Sino Hua-An International Bhd was the most actively-traded counter, with 98.79 million shares done.
Source: The Edge
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