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Netflix stock drops 6% after earnings miss due to Brazilian tax fight

Netflix's quarter — and stock price — was dragged down by a hefty 619millionexpensetiedtoaBraziliantaxdispute.Netflixotherwisehadanotherstandoutquarter,notchingrecordrevenuefueledbyrobustviewershipforKoreanthemedmegahitslike"KpopDemonHunters,""SquidGame,"anditsCanelovs.Crawfordliveboxingevent.Netflixsrevenuerose17.2619 million expense tied to a Brazilian tax dispute. Netflix otherwise had another standout quarter, notching record revenue fueled by robust viewership for Korean-themed megahits like "Kpop Demon Hunters," "Squid Game," and its Canelo vs. Crawford live boxing event.Netflix's revenue rose 17.2% to a record 11.5 billion in the third quarter, largely in line with expectations from analysts and the company's guidance. A key growth area for N ...