Netflix Plunges After Shocking Customer Drop Off




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ORIGINAL POST

Posted by Ed 38 days ago
Netflix Inc. shocked investors by reporting a drop in U.S. customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.
 

The shares plunged as much as 13% to $314 in late trading after Netflix reported the loss of 130,000 customers in the U.S. -- the result of higher prices and a weak slate of TV shows. It signed up 2.8 million subscribers internationally in the period, roughly half what the company predicted.
 

“Netflix has a difficult road ahead, with looming competition and the removal of popular content,” said EMarketer Inc. analyst Eric Haggstrom. But a stronger lineup of new shows in the current quarter could help attract former subscribers, he said.
 
 

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Ed 38 days ago

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