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Netflix slides as weak profit, ad outlook intensify investor anxiety
Netflix shares dropped 6% in premarket trading on Wednesday after the company cut its full-year advertising forecast and issued a tepid fourth-quarter profit outlook, deepening concerns about slowing viewership and revenue growth. The stock has declined more than 26% this year and, if current losses hold, the streaming giant is set to shed about $17 billion of its market value. The share performance underscores the mounting challenges facing Netflix, from losing a bidding war for Warner Bros Discovery earlier this year to defending its paid subscription model against free digital rivals and co...
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