11th October 2019
Orbis Investments: When expectations and reality diverge
On July 17th, something odd happened in the stock market. Netflix released its quarterly results, reporting that revenue had grown by a whopping 26% year-on-year. That is equivalent to doubling revenues every three years, and it puts Netflix squarely among the fastest-growing 10% of companies globally. But stranger things have happened than Netflix growing quickly. Almost immediately, the company’s stock fell more than 10%.
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