Netflix is feeling the pressure of the streaming wars.
Meanwhile, David Einhorn of Greenlight Capital told clients in a letter Tuesday that his firmIt wasn't all bad news though. Netflix is making good on its promise to reduce its cash burn, even though it continues to increase its spend on content each year. And subscribers are growing at a nice clip internationally, where Netflix faces less competition at the moment.
All in all, it's a mixed bag for Netflix early on in the year, and Tuesday's earnings report has shaken investors' confidence this week.There was a whiff of desperation in some of the data Netflix shared in its letter Tuesday. The company announced it changed the way it counts views on the service. Now, instead of counting a "view" as a subscriber watching 70% or more of a show or movie, Netflix stops counting after the first two minutes.
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