Netflix Shares Drop After Q3 Earnings Miss, Crypto Markets Remain Unaffected
Netflix (NFLX) saw its shares decline in after-hours trading following a disappointing Q3 earnings report. The streaming giant posted earnings per share of $5.87, falling short of the $6.96 consensus estimate. Revenue growth of 17.2% year-over-year to $11.51 billion met expectations, but weak EPS performance drove bearish sentiment.
Despite providing upbeat Q4 guidance—projecting revenue of $11.96 billion (above estimates) and EPS of $5.45 (slightly higher than consensus)—the stock faced downward pressure. Wall Street maintains a Moderate Buy rating on NFLX, with an average price target suggesting 11.5% upside potential.
The broader cryptocurrency market showed no direct reaction to Netflix's earnings miss. Major assets like Bitcoin (BTC) and Ethereum (ETH) continue to trade independently of traditional equity movements, reinforcing crypto's decoupling from legacy financial markets.
