Netflix is trading 10.5% down at $66.30 after its second-quarter earnings report delivered an EPS beat but a slight revenue miss and weaker-than-expected third-quarter guidance.
- The selloff is being driven by a softer outlook and the company's decision to reduce disclosure on viewing metrics, which has unsettled investors.
- Shares are facing additional pressure from a broader risk-off sentiment in the tech sector amid macro uncertainty and concerns over higher interest rates.