Shares of US streaming giant Netflix tumbled more than 10 percent at one point on the 17th, nearing a roughly two-year low. If the decline continues, the company is on track to lose about 35 billion dollars in market value, as investors reacted negatively to its third-quarter outlook released on the 16th, which fell short of market expectations, and to its plan to reduce the frequency of publishing engagement reports on viewing time. Ben Barringer, head of technology research at Quilter Cheviot, said, 'When performance is lackluster, taking away data points from investors will get you punished by the market.' Mike Proulx, research director at Forrester, also noted, 'Pulling back on engagement reporting at a time when engagement is under particular scrutiny could give the impression that there is something you don't want people to see.' Netflix shares have fallen 44 percent since hitting a record high in June 2025 and are down more than 20 percent this year alone. Following the outlook, at least 18 analysts lowered their price targets, though the median target still sits about 40 percent above the closing price on the 16th.
Netflix IncQ3 outlook missed expectations and reduced engagement reporting frequency, leading to analyst downgrades and price target cuts.