Investors were hitting the pause button on Netflix (NASDAQ: NFLX) today. There's no question that the pandemic and the extra time at home that's resulted from it has been a tailwind for Netflix. Revenue rose 24.9% to $6.15 billion, ahead of estimates at $6.08 billion, and operating profit nearly doubled in the quarter to $1.36 billion as operating margin expanded to 22.1% with profitability being aided by a cutback in production due to the pandemic. Read More...
Why Netflix Stock Slumped Today
Investors were hitting the pause button on Netflix (NASDAQ: NFLX) today. There’s no question that the pandemic and the extra time at home that’s resulted from it has been a tailwind for Netflix. Revenue rose 24.9% to $6.15 billion, ahead of estimates at $6.08 billion, and operating profit nearly doubled in the quarter to $1.36 billion as operating margin expanded to 22.1% with profitability being aided by a cutback in production due to the pandemic.
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