Netflix Slides 10% After Hastings Exit

Netflix shares fell ~10% pre‑market after Q2 guidance missed expectations and announcement of chairman Reed Hastings stepping down.
Q1 results beat forecasts with EPS $1.23 vs $0.79 estimate and revenue $12.25 bn, up 16.2% YoY.
Needham analyst Laura Martin recommends buying Netflix, citing mobile products, AI‑driven personalization and programmatic ads to boost churn, pricing power and LTV.
Netflix projects Q2 EPS $0.78 and revenue $12.57 bn, both below Wall Street consensus of $0.84 and $12.64 bn respectively.