Ed Elson

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We're back with Profiteer Markets.

Two of the biggest names in entertainment hit a rough patch last week.

Netflix reported relatively strong first quarter earnings.

Revenue rose 16% and net income jumped nearly 83%.

But those results were overshadowed by weaker-than-expected second quarter guidance, which sent the stock down 10%.

Additionally, co-founder and chairman Reed Hastings announced that he will leave the board in June, ending a nearly 30-year run at the company he built.

Meanwhile, at Disney, the new CEO Josh DeMauro has begun laying off roughly 1,000 employees.

Marvel Studios was among the hardest hit as nearly its entire visual development team was shown to the exit.

So, here to help us break all of this down, we are joined by Rich Greenfield, co-founder and TMT analyst at LightShed Partners.

Rich,

Good to see you.

Thank you for joining us.

I want to start here with Netflix earnings.

Seemingly strong quarter when you look at the revenue, when you look at the earnings, but ultimately Wall Street hated it.

And I can't quite tell if it's the guidance or if it's Reed Hastings leaving or maybe something else.

What do you make of it?

What do you think is sort of the long-term vision for the company right now?