Netflix Q2 Revenue Hits $12.56B, Stock Plunges 8% Despite Ad Business Forecast of $3B Annually

NFLX1.20%
According to Netflix's Q2 earnings disclosure, the streaming company reported revenue of $12.56 billion, up 13.4% year-over-year. The company's advertising business is forecast to generate $3 billion in annual revenue. Despite the strong financial performance, Netflix's stock fell more than 8% following the announcement.
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