Tuesday, July 17, 2018

Netflix goes Leftist - takes hit...

San Francisco (AFP) - Netflix shares plunged Monday after the leading streaming television service said subscriber growth fell short of expectations in the recently ended quarter.

Membership in the quarter grew 5.2 million to a total of 130 million, matching the same period last year but a million shy of what Netflix had forecast, according to a letter released along with earnings figures.

Netflix shares dropped 14.11 percent to $343.97 in after-market trade, in a setback to the television juggernaut operating in some 190 markets around the world.

"We had a strong but not stellar Q2 (second quarter)," Netflix said in a letter to shareholders.

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