Netflix Stock Dives on Weak Subscriber Growth
- 6 years ago
Netflix Stock Dives on
Weak Subscriber Growth The streaming giant added 5.15 million subscribers during the last quarter. This was far fewer than the 6.2 million it had forecast in April. The streaming giant has seen user growth slow in the U.S. as it nears market saturation. It had been counting on its global push to help it continue to grow at a rapid clip. It was Netflix's weakest quarter in terms of subscriber growth since the first quarter of 2017. Netflix CEO Reed Hastings called the quarter "strong but not stellar." The subscriber growth weakness was enough to send the stock down by as much as 14 percent during after-hours trading.
Weak Subscriber Growth The streaming giant added 5.15 million subscribers during the last quarter. This was far fewer than the 6.2 million it had forecast in April. The streaming giant has seen user growth slow in the U.S. as it nears market saturation. It had been counting on its global push to help it continue to grow at a rapid clip. It was Netflix's weakest quarter in terms of subscriber growth since the first quarter of 2017. Netflix CEO Reed Hastings called the quarter "strong but not stellar." The subscriber growth weakness was enough to send the stock down by as much as 14 percent during after-hours trading.