Internet television network Netflix missed Wall Street's estimate for new subscribers in the first quarter. Netflix stock fell on the news. Read More...
AP Finance
Netflix reports a first-quarter burst in subscriber growth
Netflix began the year with another burst in subscriber growth that eclipsed analysts’ projections for the third consecutive quarter, providing further evidence the video streaming service has regained its momentum after a jarring downturn in customers prompted a shake up. The 1.75 million gain in Netflix subscribers reported Tuesday for the January-March period was nearly 550,000 more than the average estimate among among analysts surveyed by FactSet. Although the subscriber increase was smaller than Netflix has historically reported for the first quarter, it was a stark contrast to the loss of 200,000 subscribers that the Los Gatos, California, company sustained at the same time last year.
Add Comment