24H｜Netflix Stock Plunges 9%; Quantum Computing Shares Drop; QMCO, IONQ, QUBT down 3%; Rigetti Computing down 2%

Tiger Newspress

04/17

Netflix Chairman Reed Hastings is quitting the streaming service he co-founded 29 years ago.

The departure of Hastings, 65, comes at an inopportune time. The company is ‌searching for new avenues of growth as sales slow due to competition, and after a potentially transformative merger with Warner Bros Discovery fell through in February.

Netflix on Thursday forecast earnings per share in the current quarter below analysts' expectations and quarterly revenue growth that is the slowest in a year, according to LSEG.

The company's stock plunged around 9% in overnight trading on the news of Hastings' departure.

Quantum computing shares fell in overnight trading.

QMCO, IONQ, QUBT down 3%; Rigetti Computing, D-Wave Quantum down 2%.

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