Netflix Only Adds 670K U.S. Subscribers, Half of What Analysts Expected
Netflix announced their second-quarter earnings this afternoon and missed analysts expectations for the first time in over a year.
The service only added 670,000 Domestic Subscribers, which was almost half of the 1.23MM analysts were expecting. The streaming service also added 4.5 million International Subscribers, 600K fewer than analyst expectations.
The stock is down nearly 13% after-hours as of the result of the miss. Many investors fear that the service will not be able to maintain subscriber growth to match their increase in their content budget.