Netflix expects revenue growth to slow to 11.5%

Netflix's third-quarter earnings exceeded Wall Street expectations, but it is expected that revenue growth will slow for the fourth consecutive quarter, with fourth-quarter revenue projected at $13.4 billion, below analyst forecasts. Netflix attributes the revenue shortfall to its advertising business, expecting that segment's revenue to be $300 million less than the company's original expectations.

After the earnings report was released, Netflix's stock price fell by as much as 7%.