Apple Inc.
AAPL
$175.49
−3.58 (2.00%)
Netflix Subscriber Growth Slows as Economies Reopen

Published by

November 28, 2024
(GMT+2)

Netflix Inc. stated that subscriber growth for the first quarter was weaker than anticipated, a potential warning sign for the company as consumers in multiple countries start to emerge from pandemic-oriented lockdowns and as streaming competition increases.The company on Tuesday stated that it added another four million subscribers on a net basis internationally between January and March, less than its forecast of six million.“It’s just a little wobbly right now,” Netflix Chairman and Co-Chief Executive Reed Hastings said on the Company’s video call to discuss results. Netflix shares were 8.4% lower in after-hours trading. The stock is up almost 26% over the last 12 months. The subscriber increase in the first quarter was far below the 15.8 million increase from a year earlier, when the spread of the coronavirus was first intensifying and people were homebound and bingeing on content.

WHAT TO READ NEXT

Ready to get started?

Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.