
Sign up to save your podcasts
Or
Netflix said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates.
The world’s most valuable entertainment company posted quarterly operating income of $3.24 billion, according to a statement Tuesday, about $400 million below its own forecast and analysts’ estimates. The company’s outlook for the current quarter is largely in line with Wall Street projections.
Netflix had to pay about $619 million to settle a multiyear tax dispute with Brazilian authorities going back to 2022. The company had identified the potential risk in previous filings – but not in its earnings guidance — and said it would have beaten forecasts if not for the expense. Future payments will be smaller.“We don’t expect this matter to have a material impact on future results,” the company said.
For instant reaction and analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with:
See omnystudio.com/listener for privacy information.
4.6
1515 ratings
Netflix said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates.
The world’s most valuable entertainment company posted quarterly operating income of $3.24 billion, according to a statement Tuesday, about $400 million below its own forecast and analysts’ estimates. The company’s outlook for the current quarter is largely in line with Wall Street projections.
Netflix had to pay about $619 million to settle a multiyear tax dispute with Brazilian authorities going back to 2022. The company had identified the potential risk in previous filings – but not in its earnings guidance — and said it would have beaten forecasts if not for the expense. Future payments will be smaller.“We don’t expect this matter to have a material impact on future results,” the company said.
For instant reaction and analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with:
See omnystudio.com/listener for privacy information.
971 Listeners
410 Listeners
1,173 Listeners
2,174 Listeners
1,856 Listeners
414 Listeners
965 Listeners
793 Listeners
192 Listeners
60 Listeners
1,289 Listeners
67 Listeners
78 Listeners
31 Listeners
60 Listeners
427 Listeners
4 Listeners
56 Listeners
232 Listeners
218 Listeners
61 Listeners
74 Listeners
73 Listeners
63 Listeners
83 Listeners
382 Listeners
26 Listeners
12 Listeners
7 Listeners
2 Listeners
78 Listeners