January 17, 2019 / 10:35 PM / 7 months ago

Netflix: Down after co misses fourth-quarter revenue estimates

The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake

** Netflix’s shares (NFLX.O) down 4.5 pct at $337.46 in extended trading - if losses hold on Friday, stock set for its biggest 1-day fall so far this year

** Co misses Q4 revenue estimates despite a slate of new original content

** NFLX was up marginally in afternoon trading

** Co added 8.84 mln paid global streaming subscribers in the Q4 and expects global paid streaming net subscriber additions of 8.90 mln in the current quarter

** Analysts had expected 9.18 mln net global streaming additions in Q4 and 7.64 mln additions for the current quarter, according to IBES data from Refinitiv. It was not immediately clear if analysts were excluding unpaid additions

** Up to Thursday’s close, NFLX was the best performing FAANG stock so far in 2019, with YTD gains of ~31 pct

Reporting by Uday Sampath in Bengaluru

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