Netflix Shares Crash After New Subscriptions Fall Short of Expectations

18 Июля, 2018, 00:29 | Author: Courtney Perry
  • Netflix Shares Crash After New Subscriptions Fall Short of Expectations

Moving forward, Netflix forecasts a total revenue of US$3,988 million for Q3 18. The company's shares fell by 13.1 per cent to $348.15 in after-hours trading.

Netflix's stock price continued to slide, a sign investors are anxious the video-streaming service's faltering subscriber growth could augur a broader slowdown.

Netflix added 5.1 million streaming users in the latest quarter, below the 6.2 million forecast the company gave in April.

They're also anxious about the amount of cash Netflix might spend this year - up to $4 billion by J.P. Morgan estimates - and the pace of subscriber growth.

"Our viewing is setting year-over-year records, the shows that we have coming", he said in a conference call on Monday.

Netflix Shares Crash After New Subscriptions Fall Short of Expectations

The company gained 5.1 million subscribers worldwide during the quarter, more than 1 million below the number that management had believed it could.

The streaming service that has ventured in recent years into original productions, such as The Crown, House of Cards and Stranger Things, reported a profit of $384.3 million, or 85 cents a share, up from 15 cents a share the previous year.

Total streaming revenue for Q2 18 is US$3,814 million, up from US$2,671 million during the same period a year ago.

What is not clear is where the hurdles to that unbroken run of growth will come from, be it stronger competition from Amazon Prime or the changes in control of major film and TV franchises heralded by Walt Disney and Comcast's bid for Twenty-First Century Fox.

Hastings said the company would make adjustments to account for foreign exchange rates in order to "steadily" increase operating margins.

Читайте также: Apple Music might have overtaken Spotify and have more paying USA subscribers

"Right now, Netflix is still miles ahead of its closest competitor, but there is going to be a giant bulls-eye on Netflix's back during the next 18 to 24 months", Ives predicted in an interview.

Inc plans to add more regional content in India as it builds the Prime video service around the world. But the landscape is increasingly looking more like an unbundled version of the old cable model-dozens of channels from Netflix to CBS to Showtime, each with their own monthly fee.

Going forward, "We anticipate more competition from the combined AT&T/WarnerMedia, from the combined Fox/Disney or Fox/Comcast as well as from global players like Germany's ProSieben and Salto in France", the company said in the investor letter.

"Our strategy is to simply keep improving", Netflix said.

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