In the following video, analyst Brenton Flynn runs through this week's earnings report from Netflix. It was only weeks ago that Netflix shareholders were high-fiving each other as the stock soared on sensational news that June content viewership had surpassed 1 billion hours.

While Brenton's the quantitative type who loves his operating metrics, it was easy to see this as nothing more than propaganda, offering no tangible evidence that business was booming. Fast-forward to this week, and investors received a dose of reality in tempered subscriber guidance and concerns over its ability to hit full-year targets. Follow along to learn more.

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