Netflix Shares Drop on Weak Q2 Guidance and Co-Founder's Board Exit
Netflix shares fell 9% after hours following weak second-quarter revenue guidance, despite strong first-quarter results. The company reported Q1 revenue of $12.25 billion, exceeding expectations, but guided Q2 revenue at $12.57 billion, below estimates. Co-founder Reed Hastings is set to exit the board, adding to investor concerns.
Tickers: $NFLX
Topics: Company Leadership Changes Earnings Guidance Stock Price Movement