Netflix's Stock Tumbles As U.K., E.U. Exposure Hurts In Wake Of Brexit

By Markets MarketWatch Pulse

Shares of Netflix Inc. tumbled 3.8% in premarket trade, as the video streaming services suffers collateral damage from the U.K.'s vote to exit the European Union. Netflix received 3.0% of its revenue over the past 12 months from the U.K., and 16.4% of its total revenue from Europe, according to FactSet data. The U.K.'s benchmark FTSE 100 Index was tumbling 4.4%, and the Stoxx Europe 600 Index was plunging 7.5%. At the current premarket price of $88.20, the stock would be down 14% this month, and 23% year to date.

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