Netflix's revenue growth is expected to slow for the fourth consecutive quarter.

October 21 - Netflix (NFLX.O) reported third-quarter earnings that exceeded Wall Street expectations, but the company forecasts revenue growth to slow for a fourth consecutive quarter. This outlook may further heighten market concerns about the operating performance of the world's leading streaming platform.

Netflix's third-quarter revenue was $12.9 billion, in line with Wall Street expectations. The company expects fourth-quarter revenue to reach $13.4 billion, below analyst forecasts. Its revenue growth has slowed from 17.6% in the fourth quarter of last year and is projected to further decline to 11.5% in the fourth quarter of this year.

Netflix attributed the revenue shortfall to its advertising business, expecting revenue from that segment to be $300 million less than the company had originally anticipated. Following the earnings release, Netflix's stock fell as much as 7%.