Netflix missed the earnings target set by stock market analysts during the video streamer’s latest quarter, a letdown that the company blamed on a tax dispute in Brazil.

The results announced Tuesday broke Netflix’s six-quarter streak of posting a profit that eclipsed analysts’ projections.

Investors, though, weren’t placated by the explanation as Netflix’s shares still fell by about 6% in extended trading after the numbers came out.

Analysts varied in their interpretation of the third-quarter report.

But Zacks analyst Jeremy Mullin said he sees little reason for concern, asserting Netflix’s “underlying story remains solid.”

Netflix earned $2.5 billion, or $5.87 per share, in its July-September quarter, an 8% increase from the same time last year. Revenue climbed 17% from last year to $11.5 billion. Analysts surveyed by FactSet Research had predicted the Los Gatos, California, company to earn $6.96 per share on revenue of $11.5 billion.

The shift has paid off so far, with Netflix’s stock price rising about 40% so far this year, although the downturn in extended trading signaled some of those gains are about to evaporate.

“We have a better understanding of the streaming business than any of our competitors,” Greg Peters, Netflix’s other co-CEO, boasted during the call.

Netflix has maintained its lead by adding more live sports and video games to supplement its wide array of scripted programming – a diversification effort that will expand into video podcasts from Spotify next year.

And now Netflix may have another opportunity to add even more compelling programming with Warner Bros. Discovery announcing it may sell all or part of its holdings, which include HBO, DC Studios and CNN. Analysts are already speculating that Netflix may join the bidders looking to grab a piece of Warner Bros. Discovery.

In response to a question about Netflix’s acquisition strategy, Sarandos noted that the company traditionally has been “more builders than buyers” without ruling out a potential bid for some of Warner Bros. Discovery’s properties other than cable TV networks like CNN and TBS. “We can be and will be choosey,” Sarandos said.

The company has also mining a new vein of revenue by selling commercials as part of a low-priced option of its service it introduced three years ago.

Although the advertising business still isn’t large enough to require the company to disclose its sales, management expects its revenue to more than double from last year. A recent analyst by S & P forecast $1.1 billion in ad sales for Netflix this year — a figure that would represent about 2% of its projected total revenue.

It’s getting to the point that Netflix may be in danger of trying to juggle too many ball at once, said Forrester Research analyst Mike Proulx. “If the company goes too broad to become all things entertainment, it risks diluting its core.”