Communications Services Fall as Netflix Outlook Disappoints

Dow Jones05:41

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 17:41 ET (21:41 GMT)

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