Netflix said its decade-long run of subscriber growth ended in the first quarter and admitted it is becoming “harder to grow membership” in many markets, sending its shares plunging 25 per cent in after-hours trading. The video streaming pioneer shocked investors by forecasting that the number of its subscribers would fall by another 2mn in the current quarter, to about 219.6mn, after declining by about 200,000 in the first quarter. Investors had expected an increase of 2.6mn subscribers. Read More...
Netflix said its decade-long run of subscriber growth ended in the first quarter and admitted it is becoming “harder to grow membership” in many markets, sending its shares plunging 25 per cent in after-hours trading. The video streaming pioneer shocked investors by forecasting that the number of its subscribers would fall by another 2mn in the current quarter, to about 219.6mn, after declining by about 200,000 in the first quarter. Investors had expected an increase of 2.6mn subscribers.
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