A top media analyst is worried about Netflix earnings

In this photo illustration the Netflix logo is seen displayed on a smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
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One of Netflix's most bearish Wall Street analysts said Thursday that the company's third quarter results will be worse than she previously thought.

Needham's Laura Martin, who already had an underperform rating on the streaming video stock, slashed estimates for Netflix's third quarter in a new note to clients. The company is scheduled to report its quarterly results on Oct. 20. 

Martin is one of the top analysts for internet and entertainment stocks, with a five-star rating on TipRanks. She originally downgraded Netflix to underperform last December.