#brazilian-tax-dispute

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fromFast Company
14 hours ago

Netflix misses Q3 earnings targets due to tax dispute in Brazil

Netflix missed Wall Street's third-quarter earnings targets because of an unexpected expense from a dispute with Brazilian tax authorities, while it offered a forecast a touch ahead of Wall Street projections for the rest of the year. The report failed to impress investors accustomed to fast-paced growth from the streaming video pioneer. Shares of Netflix, which had risen 39% this year ahead of the earnings report, fell 6.3%, to $1,163.80, in after-hours trading on Tuesday.
Television
Tech industry
fromBusiness Insider
15 hours ago

Netflix stock drops 6% after earnings miss due to $619 million expense from Brazilian tax fight

Netflix posted record $11.5 billion revenue driven by strong viewership and ad sales but incurred a $619 million Brazilian tax expense that reduced operating income.
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