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Netflix Stock Tanks After Q2 Earnings Report
From:
Kathleen Greenler Sexton --- Subscription Expert Kathleen Greenler Sexton --- Subscription Expert
For Immediate Release:
Dateline: Boston, MA
Wednesday, July 18, 2018

 
This week is not off to a good start for Netflix. On Monday, the streaming video on demand pioneer reported its second quarter financials. While the report was strong, Netflix (NASDAQ: NFLX) said in a letter to shareholders that the quarter was ‘not stellar.’ The biggest difference between actual versus forecast figures was in the membership category. Membership grew by 5.2 million to 130 million members, but this was lower than the 6.2 million new members forecast for the quarter. Netflix said it fell short because it had over-forecast global additions and acquisition growth was slower than expected.

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