Netflix sees a return to modest subscriber growth in the second quarter, and continues to make progress on plans to introduce an ad-supported subscription tier. Read More...
Reuters
Netflix soothes Wall Street concerns with customer growth forecast
LOS ANGELES (Reuters) -Netflix Inc said on Tuesday it lost 970,000 subscribers from April through June, averting the worst-case scenario projected by the company, and predicted it would return to customer growth during the third quarter. Netflix shares, which have fallen roughly 67% this year on concerns about future growth, rose 7% to $216.00 in after-hours trading following the results. The world’s largest streaming service also said it plans to launch its ad-supported option next year, and it warned that the strong dollar was hitting revenue booked from subscribers abroad.
