On Tuesday, Netflix reported that its growth had slowed for the fourth quarter in a row.
\n\nNetflix sales are still growing, just not at an acceptable rate for Netflix or Wall Street, which is why its shares dropped seven percent on this report, to a two-year low.
\n\nCurrently, Netflix shares trade at $66.00. That’s nearly 50 percent down from last summer.
\n\n“Netflix delivered sales of $12.9 billion in the third quarter, in line with Wall Street’s expectations, and forecast sales of $13.4 billion in the year’s final three months, falling short of what analysts have predicted,” reports Bloomberg. “The pace of growth has fallen from 17.6% in the final quarter of last year to a projection of 11.5% for this year’s fourth quarter.”
\n\n“The company blamed its sales shortfall on the advertising business, which is on pace to deliver $300 million less than the company expected.”
\n\nBut unlike the rest of the entertainment world, Netflix is willing to admit what the real problem is…
\n\nOver the past week, Peters and co-CEO Ted Sarandos have overhauled the company’s leadership to address what they see as a decline in programming quality.
\n\nNow, I won’t ever give out stock advice, and I would…
Original source: https://www.breitbart.com/economy/
