Business News
Home > Business News
Once a Wall Street darling, Netflix in choppy financial waters
TIWN
TIWN
PHOTO : TIWN
New York, July 17 (TIWN) Netflix, once a darling of Wall Street, is suddenly on the ropes, media reports said.
The streaming giant will report its second-quarter earnings on Tuesday, and it's shaping up to be one of the most consequential moments in the 25-year history of the company, CNN reported.
Netflix is having a terrible year. In April, the company reported that it had lost subscribers in the first quarter of 2022 -- the first time that had happened in any quarter for more than a decade. Netflix's stock subsequently burst into flames, it's currently down about 70 percent so far this year, wiping out billions of dollars in market value, and the company laid off hundreds of employees.
Add your Comment
Comments (0)
More Business News
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report