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Netflix beat revenue forecasts but missed earnings due to a Brazil tax charge, despite strong subscriber growth and hit content.
Netflix's third-quarter revenue rose 17.2% year-over-year to $11.51 billion, meeting estimates, but earnings per share of $5.87 missed expectations due to a $619 million tax-related expense from a dispute with Brazilian authorities.
Excluding the charge, the company would have met its operating margin forecast.
Despite the earnings miss, Netflix reported strong viewership in the U.S. and UK, its most successful film yet, "KPop Demon Hunters," and its best ad-supported membership quarter ever.
The company raised its Q4 guidance and remains confident in its momentum, citing high-profile releases and expanded live events.
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Netflix superó los pronósticos de ingresos, pero perdió ganancias debido a un cargo fiscal de Brasil, a pesar del fuerte crecimiento y rendimiento de los suscriptores.