Posted on 07/18/2019 12:20:30 PM PDT by Hojczyk
Investors did not like what they saw in Netflix’s second-quarter results.
Shares of the company plunged by more than 11 percent in after-hours trading following the company’s release of data on new subscriptions that fell short of Wall Street expectations and company guidance.
Netflix added 2.7 million subscribers in its second quarter, down from about 6 million new subscribers in last year’s second quarter and well below the 5 million or so expected. The company actually lost about 130,000 domestic subscriptions in the second quarter. Internationally, the company added 2.83 million subscribers, well below the consensus forecast of 4.81 million.
Prior to the stock’s reaction to the quarterly results, Netflix had been an investor favorite, rising more than 35 percent in 2019.
Despite the disappointing subscription numbers, revenue jumped to $4.92 billion, which was only slightly below estimates. Profit fell to $270 million from $384.3 million a year ago.
(Excerpt) Read more at breitbart.com ...
Don't quit for the programming.
Quit because they hired Susan Rice, then signed the obammys.
The idiots started making the same programming everyone was leaving cable over. Obama was just the last straw.
When it started, they had great older series and movies. Now all “original” programming is just painful to even contemplate.
If they had a clue they wouldn’t give Hollywood writers the time of day.
It won’t be missed.
Nothing in any media is targeted to anyone over 55. It’s just a fact of life.
Unless it’s a religious channel.
Netflix is a service for 16 year old girls, and 45 year old women with cats.
As did I.
Yes, I suspect there is truth to that. My wife and I don’t buy much. I now figured out why a lot of old people don’t have money problems. There is really nothing they want. I’m even getting bored with my sports car. That’s just weird.
New hit piece on Trump.
The Great hack. - Netflix
This article explains though for those not remembering.
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