Shares of Netflix (NASDAQ:NFLX) fell more than 35% in morning trading on Wednesday after the company posted a significant slowdown in revenue growth and an unexpected net loss in subscribers. While Netflix lost 200,000 subscribers in the first quarter, the company predicted it could lose 2 million more in the second quarter.
The Pandemic Inflated NumbersNetflix had expected to gain an additional 2.5 million subscribers but instead lost some, bringing its total down to 221.64 million subscriptions.
The streaming giant explained that this drop was mainly linked to the difficulty of acquiring new ...
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Netflix Stock Dips Nearly 40% After Losing Subscribers, Analysts Cut Ratings