As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by YAHOO.COM:
(Reuters) – Netflix Inc’s subscriber growth fell short of Wall Street expectations on Monday, sending shares of the normally high-flying stock down 14 percent on fears that the company’s expansion is slowing.
The company added 5.2 million customers from April through June, 1 million fewer than forecasts from Thomson Reuters I/B/E/S, as it added new programming including “Lost in Space” and new episodes of Marvel’s “Jessica Jones” and “13 Reasons Why.”
The article goes on to state the following:
“We had a strong but not stellar Q2,” Netflix said in a quarterly letter to shareholders.
Netflix said it had “over-forecasted” quarterly fluctuations in the pace of new customers. The company noted that it had underestimated subscribers for seven of the past 10 quarters.
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