Netflix's stock took a hit after its first-quarter earnings update and outlook, which exceeded expectations but fell short of expectations. The company's shares dropped 9% in the after-market trading and as of 7:15 a.m. ET on Friday were down 10.8% at $96.20. Wall Street analysts have shared their thoughts on the results, outlook, and the upcoming exit of Netflix founder and chair Reed Hastings. Issues such as price hikes, advertising momentum, ongoing debate about Netflix’s engagement trends and the World Baseball Classic. Michael Morris, Guggenheim Securities, attributed the drop to the recent U.S. price hikes and the recently returned stock swagger after the streamer dropped out of the bidding war for Warner Bros. Discovery and received a $2.8 billion break-up fee. Jeffrey Wlodarczak, Pivotal Research Group, also commented on the company's potential competition with short-form entertainment (TikTok, Instagram, X, YouTube shorts and Snap), and its potential for global competition.