Netflix earnings: Why the stock fell on earnings

Netflix (NFLX) reported fourth-quarter earnings of $0.56 per share. Revenue was $12.05 billion versus an estimate of $11.97 billion. For the first quarter, the streaming giant sees earnings of $0.76 per share and revenue of $12.16 billion.
Netflix also announced it will suspend its buyback program to help fund its purchase of Warner Bros.
Bloomberg Intelligence senior media analyst Geetha Ranganathan discusses the updated bid and what the deal could face as a "tough, long slog."