Communications Services Fall as Netflix Outlook Disappoints — Communications Services Roundup
Stocks in the U.S. communications services fell as Netflix forecast revenue growth of 11.7%-its smallest year-on-year increase of any quarter since late 2023.
Netflix reported second-quarter revenue of $12.56 billion, up more than 13% from the same period a year earlier. Net income rose almost 9%, to $3.4 billion. The results were roughly in line with analysts' expectations. Netflix attributed the second-quarter gains in part to recent price increases and growth in advertising.
SpaceX falls 5.4% after the company scrubbed a planned test flight of its Starship rocket. A problem with booster engines led to the delay. CEO Elon Musk said he's hoping for another launch attempt in a few days. Analysts at Bernstein wrote in a note on Friday that they expect 3,543 launches of the 400-foot Starship rocket in 2031, with about nine in 10 focused on Musk's proposed orbital data centers.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
July 17, 2026 17:56 ET (21:56 GMT)
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