Netflix shares fall amid declining viewing time and workforce reductions
NFLX Netflix Inc
$63.95 +0.85%
View chart & analysis → - 1Netflix shares recorded a 10.8% decline last month.
- 2Netflix announced at the end of last month that it would lay off approximately 1,000 employees.
- 3Netflix recorded $12.9 billion in third-quarter revenue, achieving a 12% year-over-year revenue growth rate.
So what's the key point?
Netflix reduced its workforce by 1,000 employees and its stock price fell 10.8%. Revenue reached $12.9 billion, representing 12% growth compared to the previous year.
Source The Motley Fool +1 · View original ↗
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