Netflix Sales Growth to Decline for Fourth Quarter in a Row

Netflix reported earnings for the third quarter that exceeded Wall Street expectations, but forecast a fourth consecutive quarter of slowing sales growth, a projection that may amplify concerns about the performance of the world's leading online TV network. Netflix delivered sales of $12.9 billion in the third quarter, in line with Wall Street's expectations, and forecast sales of $13.4 billion in the year's final three months, falling short of what analysts have predicted. The pace of growth has fallen from 17.6% in the final quarter of last year to a projection of 11.5% for this year's fourth quarter. The company blamed its sales shortfall on the advertising business, which is on pace to deliver $300 million less than the company expected.