NFLX stock shed more than 11% in market value to a new 6-month low on Thursday after Netflix, Inc. (NASDAQ:NFLX) reported worse than expected net paid member additions for the second quarter. A confirmation that the company added 2.7 million new members did not go well with investors. The company had initially projected five million paid member additions for the quarter.
Net Additions Miss ExpectationThe miss affirmed growing concerns about slow growth in the US. In its defense, the streaming giant insists that competition was not a factor behind the reduced number of new member’s ...
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