Netflix Shares Dip on Growth Outlook
An underwhelming conference presentation and M Science report were pulling down Netflix shares.
Shares of Netflix (NFLX) - Get Report were also falling about 3% in afternoon trading after an underwhelming presentation at a Goldman Sachs conference in which CFO David Wells hinted that no significant audience growth spikes are on the media-streaming giant's horizon. Wells said, "We can build audience over time and grow that to a point where we don't necessarily have to have home runs," and "singles and doubles are fine." Netflix shares were also pressured Wednesday by an M Science report that noted the company is likely to miss its third-quarter subscriber growth estimates. Shares of Netflix are now down about 17% so far on the year.
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