---
title: "Netflix Shares Fall (NFLX) as Profit Forecast Disappoints, Co-Founder Exits - Bloomberg"
source: "https://www.bloomberg.com/news/articles/2026-04-16/netflix-revenue-beats-estimates-as-hastings-steps-down?srnd=homepage-americas"
domain: "www.bloomberg.com"
type: "article"
summarized_at: "2026-04-16"
canonical: "https://tl-dr.cc/s/netflix-shares-fall-nflx-as-profit-forecast-disappoints-cTG3"
---

# Netflix Shares Fall (NFLX) as Profit Forecast Disappoints, Co-Founder Exits - Bloomberg

**Source:** [www.bloomberg.com](https://www.bloomberg.com/news/articles/2026-04-16/netflix-revenue-beats-estimates-as-hastings-steps-down?srnd=homepage-americas)  
**Summarized:** 2026-04-16  

- Netflix beat Q1 revenue estimates at $12.3B but stock fell 9% on weak Q2 earnings guidance of 78 cents per share versus 84 cents expected.
- Co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.
- The company raised subscription prices in March, with the standard ad-free plan now at $20/month, as Wall Street watches for subscriber retention signals.

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