Netflix missed the earnings target set by stock market analysts during the video streamer’s latest quarter, a letdown that the company blamed on a tax dispute in Brazil.

The results announced Tuesday broke Netflix’s six-quarter streak of posting a profit that eclipsed analysts’ projections.

The Los Gatos, Calif., cited an unexpected $619 million expense tied to the Brazilian tax dispute for the earnings shortfall while hailing its lineup of distinctive TV series and films for keeping its audience engaged and delivering a mix of subscriber fees and increased ad sales that helped it deliver revenue that matched analyst forecasts. 3

Investors, though, weren’t placated by the explanation as Netflix’s shares still fell by about 6% in extended trading after the numbers came out.

Ana

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