Jul 16, 2018 - Technology

Netflix stock sinks after missing on Q2 revenue, subscriber additions

Photo: Chesnot / Getty Images

Netflix stock was down nearly 14% in after-hours trading after the company reported that it missed investor expectations on revenue and subscriber additions.

Why it matters: The company has spent an enormous amount on original content and marketing to ensure strong user growth quarter after quarter. Both expenditures have held Netflix back from profitability for years, and are projected to continue to do so. However, investors have been bullish on the platform due to strong user growth over the past several quarters.

By the numbers: Netflix added 5.2 million subscribers, the same as Q2 last year, but lower than its forecast of 6.2 million. The company brought in $3.91 billion in revenue versus $3.94 billion expected.

A silver lining: The company beat in earnings per share, with $0.85 vs. $0.79 expected.

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Rebecca Falconer
16 mins ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Of note: With 13 days until Election Day, the court voted 5-3 against the measure. Liberal Justices Sonia Sotomayor, Elena Kagan and Stephen Breyer dissented.

Axios
Updated 37 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill — McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since May — Studies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
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Jacob Knutson
1 hour ago - Politics & Policy

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

Go deeper (1 min. read)Arrow

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