Posted on 07/16/2018 2:21:03 PM PDT by Textide
(Reuters) - Netflix Inc's subscriber growth and forecast fell short of Wall Street expectations, sending shares of the normally high-flying stock crashing 14 percent on Monday.
The company's total monthly customers reached 130 million worldwide, 1 million fewer than forecasts from Thomson Reuters I/B/E/S, as it added new programming including "Lost in Space" and new episodes of Marvel's "Jessica Jones" and "13 Reasons Why."
"We had a strong but not stellar Q2," Netflix said in a quarterly letter to shareholders.
Netflix said it had "over-forecasted" quarterly fluctuations in the pace of new customers.
Before the earnings report, Netflix shares had doubled in 2018, far outpacing the 3.7 percent gain for the S&P 500 index. In after-hours trading on Monday, Netflix shares sunk 14 percent to $343.60, down from an earlier close of $400.48.
"Investors are devastated by Netflixs Q2 projection that went down in dramatic flames. Now future projections are suspect and that decimates valuation," said Eric Schiffer, chief executive officer of private equity firm Patriarch.
(Excerpt) Read more at yahoo.com ...
Some of us voted with our wallets. Too bad they're only 1 million less than forecast....
Thanks Obama!
Yeah, I was gonna say, get rid of Ebola and people (some) will come back.
Of course, their numbers had nothing to do with them pushing Obama shows.
The Obama Jinx
I hear that Netflix and Tesla are both a house of cards.
I think...NETFLIX has reached their peak....
Netflix should not have struck the deal with the loser Obamas, chasing away deplorable subscribers.
Keep spreading the word about Netflix and it’s open support for global leftism. Netflix is one of the planet’s most evil organizations. It supports everything harmful to decent society and the human creature and attacks everything good. Ask your friends and family to cancel.
I guess I was part of this. I quit Netflix this past month. Too many of their offerings are worthless leftist drivel.
No new shows on Netflix .
There’s that and a lot of foreign programs coming out as Netflix Originals. The story seems interesting but then when you select it its all subtitles or dubbed in English. I immediately click out of it.
That’s what happens when you employ 0Bummer.........
You can download any show from Netflix via torrent. The only Netflix series worth watching is The Punisher, probably the most pro-gun series on TV.
PUNISHER Actor Addresses Character’s Place In Gun Rights Issues & The Alt-Right
So do I.
I bought 100 shares at 50 a share before the 7 split. Sold them a week ago 700 shares at 400/share. Did I mention that was my roth?
Consequence of overconfidence leading to overestimation(s).....
I just torrent anything I want to see on Netflix.
F em.
< schadenfreude >
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