The value of Netflix shares dropped 10% on Thursday, one day after the streaming service reported its first drop in global growth.
Shares of the company closed at $325.21, one day after Netflix reported its second quarter earnings, revealing the company grew subscriptions by only about half of what it had forecast.
"Our missed forecast was across all regions, but slightly more so in regions with price increases," the company said in a letter to investors."We don’t believe competition was a factor since there wasn’t a material change in the competitive landscape during Q2." Media research firm MoffettNathanson kept a neutral rating on the company, noting that the company showed its first sequential decline in U.S. subscribers since 2011.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix stock drops more than 10% as earnings show huge drop in new subscribersNetflix Inc. shares plunged more than 10% in the extended session Wednesday after the video-streaming giant badly missed projections for new paid subscriptions.
Read more »
Netflix Shares Drop More Than 10% After Huge Subscriber MissThe streaming service lost 126,000 U.S. subscribers in Q2.
Read more »
Netflix Shares Drop More Than 10% After Huge Subscriber MissThe streaming service lost 126,000 U.S. subscribers in Q2.
Read more »
Netflix Stock Falls 10% After Q2 Subscriber Miss Sinks In On Wall StreetNetflix shares opened more than 10% lower Thursday, on double the normal trading volume, as Wall Street analysts and investors digested the streaming giant’s subscriber buffering. The stock p…
Read more »
Billboard's 10 Most-Watched 'Growing Up Latino' Episodes: Anitta, CNCO, Rosalia & MoreBillboard's 'Growing Up Latino' series is celebrating one year since its launch. Watch the most-watched episodes on YouTube.
Read more »
10 old-school summer activities kids should tryWho needs technology? Here are some delightfully low-tech classic activities your kids should do at least once this summer.
Read more »