Netflix falls on weak profit forecast

By Reuters News

** Netflix NFLX.O shares decline 6% at $64.64 in pre-market trading on Wednesday after the weaker-than-expected Q4 profit forecast and lowering of full-year advertising outlook

** Co forecasts Q4 net income of $2.79 bln and EPS of 67 cents, below analyst forecasts for $3.07 bln and 73 cents; also cuts 2026 ad rev forecast to ~$2.7 bln

** Co-CEO Ted Sarandos says "we could do better" and plans to focus on core business of producing quality TV shows and movies after recent executive shakeup

** NFLX shares down ~26.7% YTD vs a 13.7% rise in the Nasdaq .IXIC; stock is ~45% below its 52-week intraday high of $124.86

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