In the second quarter previous year, it added 5.2 million - 1.1 million United States subscribers and 4.1 million global ones. That may seem impressive at first glance, but it's more than 1 million fewer subscribers than what the streaming giant was anticipating. The stock is now down by over 13%, after it significantly missed subscriber targets.
Well to many adding 4.47 million subscribers and hitting a new all-time high in subscribers sounds great to wall street they wanted to see a higher subscriber count.More news: May bows to pressure from Tory Brexiteers over customs plan
Netflix's subscriber numbers are seen as a bellwether of its fortunes.
Netflix's stock fell almost 14% after its earnings report. Nonetheless, it's not all doom and gloom for Netflix.
Revenue: $3.91 billion. Analysts were expecting $3.94 billion. The 112 Netflix nominations include five best series and best limited series nominations and are spread across 40 different scripted and unscripted series, TV movies, limited series, documentaries, talk shows, comedy specials and series for kids. This is a testament to the fantastic creators we work with across all forms of television.More news: Mysterious burns on teen's face caused by brush with toxic plant
Netflix's explosive growth may be starting to plateau.
"After four consecutive quarters of beating its own guidance, and analysts' expectations on key metrics such as revenues, profits, and subscriber gains, Netflix disappointed with a weak Q2", said eMarketer principal analyst Paul Verna.More news: Cyber threat warnings 'blinking red' for US national security says intelligence official
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