Netflix

Netflix reported third-quarter profit up 44 percent to about 3.7 billion dollars with revenue meeting estimates, but its shares fell after the company forecast a fourth-quarter slowdown and said it would miss its full-year advertising revenue target. The report also lands alongside a significant content leadership shake-up. Shares sank despite the earnings beat, which investors read as a verdict on the advertising strategy rather than on current profitability.

The US state of Texas has filed accusations against Netflix, alleging the platform illegally collected user data including children’s personal information.

Netflix is testing a new TikTok-like vertical short video feature called ‘Clips,’ marking its official entry into the short-form video space.