Netflix (NFLX) Surges Post Earnings & Alphabet (GOOGL) Cutting 12K Jobs

Netflix (NFLX) stock price today was up over 8% after their earnings report was released. The Netflix earnings call revealed that the subscriber numbers beat expectations. The NFLX revenue came in at $7.85B for the quarter versus the $7.86B estimate. Reed Hastings was named the Netflix executive chairman. Ted Serandos and Greg Peters are now Co-CEOs. Netflix anticipates resuming its share buyback program this year. Next, Renita Young weighs in on Alphabet (GOOGL) cutting 12,000 jobs. This would reduce the staff by 6%.