Bloomberg Talks

Instant Reaction: Netflix Says Tax Dispute Hurt Solid Quarter


Listen Later

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:

  • Bloomberg News Media and Entertainment Editor Felix Gillette
  • Mark Douglas, President & CEO of MNTN
  • Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan

See omnystudio.com/listener for privacy information.

...more
View all episodesView all episodes
Download on the App Store

Bloomberg TalksBy Bloomberg

  • 4.6
  • 4.6
  • 4.6
  • 4.6
  • 4.6

4.6

15 ratings


More shows like Bloomberg Talks

View all
Exchanges by Goldman Sachs

Exchanges

971 Listeners

Bloomberg Intelligence by Bloomberg

Bloomberg Intelligence

410 Listeners

Bloomberg Surveillance by Bloomberg

Bloomberg Surveillance

1,173 Listeners

Masters in Business by Bloomberg

Masters in Business

2,174 Listeners

Odd Lots by Bloomberg

Odd Lots

1,856 Listeners

Bloomberg Businessweek by Bloomberg

Bloomberg Businessweek

414 Listeners

Foundering by Bloomberg

Foundering

965 Listeners

Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

Capital Allocators – Inside the Institutional Investment Industry

793 Listeners

Trillions by Bloomberg

Trillions

192 Listeners

Making Sense by J.P. Morgan

Making Sense

60 Listeners

Thoughts on the Market by Morgan Stanley

Thoughts on the Market

1,289 Listeners

Here's Why by Bloomberg

Here's Why

67 Listeners

At Any Rate by J.P. Morgan Global Research

At Any Rate

78 Listeners

Out of Office by Bloomberg

Out of Office

31 Listeners

Wall Street Week by Bloomberg

Wall Street Week

60 Listeners

The Memo by Howard Marks by Oaktree Capital Management

The Memo by Howard Marks

427 Listeners

Listen to the Story by Bloomberg

Listen to the Story

4 Listeners

Into the Metaverse by Bloomberg Intelligence

Into the Metaverse

56 Listeners

Bedrock, USA by iHeartPodcasts and Bloomberg CityLab

Bedrock, USA

232 Listeners

Zero: The Climate Race by Bloomberg

Zero: The Climate Race

218 Listeners

Bloomberg Tech by Bloomberg

Bloomberg Tech

61 Listeners

Bloomberg Daybreak: US Edition by Bloomberg

Bloomberg Daybreak: US Edition

74 Listeners

The Markets by Goldman Sachs

The Markets

73 Listeners

Bloomberg News Now by Bloomberg

Bloomberg News Now

63 Listeners

The Deal with Alex Rodriguez and Jason Kelly by Bloomberg

The Deal with Alex Rodriguez and Jason Kelly

83 Listeners

Money Stuff: The Podcast by Bloomberg

Money Stuff: The Podcast

382 Listeners

The Credit Edge by Bloomberg Intelligence by Bloomberg

The Credit Edge by Bloomberg Intelligence

26 Listeners

In the City by Bloomberg

In the City

12 Listeners

Bloomberg Opinion by Bloomberg

Bloomberg Opinion

7 Listeners

The Cable by Bloomberg News

The Cable

2 Listeners

IVF Disrupted: The Kindbody Story by Bloomberg and  iHeartPodcasts

IVF Disrupted: The Kindbody Story

78 Listeners