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 (Oct 30): The FBM KLCI closed 1.89% lower today on profit taking amid cautious sentiment ahead of crucial developments at home and abroad. The downtrend was in line with falls in regional markets as fears of a global economic slowdown amid surging coronavirus cases affected sentiment, while investors also looked ahead to the US presidential election next Tuesday (Nov 3). Areca Capital Sdn Bhd CEO Danny Wong said overall investor sentiment was one defined by caution amid next week’s developments. “Next week is set to be an eventful week with Budget 2021, Bank Negara Malaysia’s Monetary Policy Meeting and the US presidential elections. “As such, those that are currently sitting on gains would want to take profit, while those that are not are still trading to mitigate uncertainties,” he said. The KLCI ended 28.31 points lower at 1,466.89. The weak sentiment spread across the trading floor with sm...