Netflix's shares tumbled almost seven per cent following last night's financial results, after the streaming giant's impressive run of quarterly earnings was halted by a $619m (£464.8m) tax charge in Brazil that weighed on third-quarter profits.

The streaming powerhouse delivered a 17 per cent increase in revenue to $11.2bn, largely meeting forecasts, whilst operating income climbed 12 per cent to $3.2bn, as reported by City AM .

However, the unforeseen tax expense pushed its operating margin down to 28 per cent, falling short of the 31.5 per cent guidance provided earlier this year, and sent earnings per share to $5.87, roughly a dollar below Wall Street predictions.

The entertainment giant's shares finished at $1,241.35 before tumbling to $1,154.78 in pre-market trading, representin

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