Netflix Slides On Brazil Tax Hit — But Growth Story Remains Intact
Netflix Inc (NASDAQ:NFLX) saw shares dip more than 8% during early trading on Wednesday after its third-quarter earnings report on Tuesday. Still, the earnings miss stemmed from a $619 million one-time tax settlement with Brazil, an issue dating back to 2022.Track NFLX stock here.One-Time Tax Issue Clouds Strong QuarterNetflix Chief Financial Officer Spence Neumann clarified that the tax issue isn't exclusive to the company, noting it impacts "other global streaming and technology companies operating in Bra ...