From The Motley Fool · Parkev Tatevosian, CFA · · 30s
Netflix Stock Drops After Cost-Cutting Plan
Netflix's cost-cutting plan likely means stock price falls as restructuring begins.
In brief
Netflix's cost-cutting plan likely means stock price falls as restructuring begins. Netflix's stock price dropped 0.96% after its co-CEO Ted Sarandos announced cost-cutting measures before earnings. Originally reported by The Motley Fool.
Netflix's Cost-Cutting Plan
Netflix's cost-cutting effort is likely a restructuring rather than a reduction.
Stock Price Drops
Netflix stock price fell 0.96% to $69.85 after the announcement.
Earnings Before Cost-Cutting
Ted Sarandos gave investors bad news before Netflix's earnings report.
The headline
Netflix's stock price dropped 0.96% after its co-CEO Ted Sarandos announced cost-cutting measures before earnings.
