Netflix Slightly Beats Revenue Estimates, Shares Slide Amid Bidding War for Warner Bros

Netflix exceeded market expectations on revenue and profit in its holiday quarter, but its shares dropped after market close due to its expensive bid for Warner Brothers Discovery, while the company posted revenue of $12.1 billion with over 325 million subscribers, apart from its all cash offer for the purchase of Warner Brothers’ studios and content. Netflix will put its share buybacks on hold, aside from securing hefty loans to fund the acquisition, expecting its enlarged content slate, along with its advertising business, to drive future growth.