Stock Market Today, Oct. 21: Netflix Cuts Ad Revenue Guidance, Stock Slides 5%
Netflix stock fell 5.31% after the company cut its ad revenue guidance to $2.7 billion for the year, down 10% from its previous $3 billion outlook. Despite projecting 80% ad sales growth, the miss on guidance disappointed investors. The broader market rose with the S&P 500 up 0.59% and Nasdaq up 1.05%.