Netflix shares they are plummeting more than 6% in the 'after hours' Wall Street, which collects after-hours trades. The correction of the titles occurs after you have gone through the confessional and presented some accounts that have not convinced the market.
The streaming channel has not met analyst estimates regarding earnings per share. While the consensus $ 2.13, Netflix has declared $ 1.74, a figure that is 18% lower than expected.
Where if you have exceeded the estimates is in income. He has declared 6.440 million dollars, a figure slightly higher than expected. Wall Street estimated 6.38 billion.
The market has been disappointed with the accounts, but a scenario that the company contemplated and which it has warned about in the past. "We expect lower growth for the second half of 2020 compared to the previous year ", they pointed from Netflix in the presentation of the previous accounts.
Some statements in which they have reaffirmed this Tuesday. From Netflix blame slower growth on "record first half results".
“The state of the pandemic and its impact continues to make projections very uncertain, but as the world is expected to recover in 2021, we would expect our growth to return to levels similar to those before the Covid”, They have qualified in a statement.
A statement that does not quite convince analysts. If in the first months of the year you have benefited from the confinements that have been seen around the world, this is going to be just what is going to play against you in the coming months, because sooner or later the vaccine will arrive. "I would have seen Netflix, frankly, like an action to avoid, if there was, for example, a vaccine, or if the closures are lifted, "Alex DeGroote, owner of DeGroote Consulting, told the CNMB.