Good morning from the Financial Times.
Today is Friday, July 17th, and this is your FT News Briefing.
Investors are worried about Netflix's future growth, and UK businesses are worried about being ghosted by Andy Burnham.
Plus, why is Europe so good at football?
We'll take a look.
So Western Europe has 5% of the world's population.
The whole rest of the world has produced one team to compete with them, and that is a team with Leo Messi.
I'm Mark Filippino, and here's the news you need to start your day.
Netflix revenues got a bump last quarter.
The streaming giant reported earnings yesterday and said revenues grew by 13% year on year.
It credited higher subscription prices and more ad revenue.
Netflix largely met Wall Street expectations, and that's the good news.
The not-so-good news is that the company warned shareholders
that it's forecasting its worst revenue growth in three years for the third quarter.
It also had a fall in operating margins last quarter.
Netflix blamed that on higher costs related to films and other programs.
The streamer is under pressure from investors.
Its shares have fallen 21% this year.
Investors are worried about increased competition.
They also have some questions about Netflix's strategy after it failed to buy Warner Brothers Discovery.