Netflix earnings forecast disappoints investors, shares tumble

LOS ANGELES, July 16 : Netflix offered third-quarter revenue and earnings projections on Thursday that hovered below Wall Street targets and said it would reduce the amount of information it discloses on viewing hours as the streaming video pioneer seeks new avenues of growth in a competitive media landscape.Shares of Netflix fell nearly 8 per cent in after-hours trading to $68.45.The company said it expected $12.86 billion in revenue from July through September and diluted earnings per share of 82 cents. Analysts had forecast $13 billion in revenue and diluted EPS of 84 cents, according to LSEG. Third-quarter projections "appear to reflect a combination of management caution and a naturally maturing growth profile, rather than any sudden deterioration in the business," PP Foresight analys