Netflix shares plummet after missing profit expectations due to higher content costs and slower subscriber growth.

Netflix shares dropped after the company reported lower-than-expected quarterly profits, marking the first miss in six consecutive quarters. The streaming giant cited increased content spending and slower subscriber growth in key markets as contributing factors. Despite a slight increase in total subscribers, the pace of growth slowed, and revenue fell short of analyst forecasts. The earnings report triggered a sell-off, with shares declining sharply in after-hours trading.