Stock Market Today, April 17: Netflix Drops As Reed Hastings Departs From Board and Company Offers Soft Guidance

By Josh Kohn-Lindquist – Apr 17, 2026 at 4:50PM ESTExpandNASDAQ: NFLXNetflixToday's Change(-9.71%) $-10.47Current Price$97.32Key Data PointsMarket Cap$455BDay's Range$95.10 - $98.7352wk Range$75.01 - $134.12Volume5MAvg Vol48MGross Margin48.59%Netflix (NFLX 9.71%) provides streaming entertainment services worldwide and closed Friday at $97.31, down 9.72%. The stock moved lower after Q1 results paired strong profits with softer-than-expected Q2 guidance and leadership changes. Trading volume reached 124.7 million shares, about 152% above its three-month average of 49.4 million shares. Netflix went public in 2002 and has grown 81,236% since then.How the markets moved todayThe broader markets advanced Friday, with the S&P 500 rising 1.19% to 7,125 and the Nasdaq Composite gaining 1.52% to finish at 24,468. Within the entertainment industry, peers Walt Disney closed at $106.28, up 2.29%, while Warner Bros. Discovery ended at $27.47, up 0.29%, as investors weighed cost cuts and consolidation risk.What this means for investorsNetflix reported Q1 earnings yesterday afternoon, seeing sales rise 16% and EPS soar 86% (thanks partially to the $2.8 billion WBD termination fee), which sailed past Wall Street’s expectations. However, co-founder and board chair Reed Hastings announced that he would not seek reelection to the board. This downbeat news, paired with revenue guidance for 12% to 14% growth in 2026, underwhelmed the market, prompting today’s decline.Ultimately, I’d argue everything looked fine. Advertising revenue is on track to double to $3 billion in 2026. Netflix’s coverage of the World Baseball Classic was the most-watched event ever in Japan and led to record signups in the region. As the company leans into sports content, new gaming ideas, international markets, and AI initiatives, its forward P/E ratio of 31 seems pretty reasonable.Read NextApr 17, 2026 •By Howard SmithNetflix Stock Tanked Today.

Should You Buy the Dip?Apr 17, 2026 •By Anders BylundWhy Netflix Stock Fell 11.8% Friday MorningApr 17, 2026 •By The Motley Fool TeamStock Market Today (LIVE): Is Netflix (-10% Today) Finally Cheap?; Stocks Buoyed by Open StraitApr 16, 2026 •By Daniel SparksNetflix Stock Is Down, and It Could Get Worse. Here's Why Shares Could Fall Even More.Apr 16, 2026 •By Danny Vena, CPANetflix Investors Just Got Fantastic News From Co-CEOs Greg Peters and Ted SarandosApr 16, 2026 •By Motley Fool TranscribingNetflix (NFLX) Q1 2026 Earnings Call TranscriptAbout the AuthorJosh Kohn-Lindquist is a contributing Motley Fool stock market analyst covering consumer goods, industrials, and technology stocks. Previously, Josh was a senior mutual fund accountant at Gemini Fund Services. He holds a bachelor’s degree in business management from the University of South Dakota.TMFJorykoX@JorykoliStocks MentionedNetflixNASDAQ: NFLX$97.32(-9.71%)-$10.47*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.