Instant Reaction: Netflix Misses, Reed Hastings Steps Down
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 16 April 2026
⏱️ 21 minutes
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Summary
Netflix gave a forecast for the second quarter that fell short of analysts expectations, sending the shares down in extended trading. The streaming pioneer also announced that chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.
Revenue rose 16% in the first three months of the year to $12.3 billion, compared with estimates for $12.2 billion, the company said in a statement on Thursday. Earnings per share for the quarter were $1.23 compared with estimates of 76 cents.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
- Bloomberg Intelligence senior media analyst Geetha Ranganathan
- Eric Clark, Accuvest Global Advisors CIO and LOGO ETF Portfolio Manager
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Transcript
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| 0:49.3 | Focuses on Netflix just out with its latest quarterly results. |
| 0:52.8 | The company beating estimates, though. Reed Hastings, of of course one of the co-founders is stepping down from the |
| 0:58.5 | board after 29 years to pursue philanthropy and personal in interests but again |
| 1:04.2 | we should point out in terms of the company we can talk about that in just a |
| 1:07.2 | moment did report revenue that beat analyst estimates in the first quarter |
| 1:10.6 | buoyed by strong subscriber growth, engagement, keeping subscribers there and bringing them in. |
| 1:15.4 | That's important. |
| 1:16.1 | The guidance, though, is what has people concerned. |
| 1:18.8 | Second quarter earnings per share of 78 cents is what Netflix is guiding for. |
| 1:22.5 | The estimate was for 84 cents. |
| 1:24.5 | I want to bring in Geitha Ranganathan, Bloomberg Intelligence Senior Media Analyst. She joins us |
| 1:28.3 | from Bloomberg Intelligence headquarters in Princeton. Geitha, there's two elements that we |
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