Netflix Earnings: Stock Tanks on Weak Subscriber Adds
17 July, 2018, 06:25
However, GBH Insights saw the Netflix subscriber forecast miss as a "speed bump", rather than start a downward trend, reasoning that the "content arms race continues to be a major tailwind" for the company.
Netflix (NFLX) missed expectations on its subscription numbers when it reported earnings on Monday, with total streaming adds of 5.14 million versus analysts' expectations of 6.27 million.
The company's stock had previously surged almost 146% over the last 12 months, driven by strong revenues and consistently higher-than-expected subscriber growth. That exceeded the 79 cents a share estimated by analysts polled by Factset.
The company said it added 670,000 streaming customers in the US, below its guidance of 1.2 million new subscribers. Analysts were expecting 6.3 million - 1.2 million in the U.S. and 5.1 million internationally, according to Bloomberg. Global subscriber net additions are projected at 4.35 million, again, below the average 5.095 million.
The Los Gatos, Calif., company added 670,000 subscribers in the United States and 4.47 million subscribers internationally - well short of the 6.2 million Wall Street expected.
Netflix subscription numbers disappoint, stock plunges
That's compared with analyst estimates that Netflix would have Q3 net adds of 947,000 in the US and 5.05 million internationally. Chief Executive Reed Hastings, in a letter to shareholders, called it a "strong but not stellar Q2".
Netflix's stock fell almost 14% after its earnings report. While it's one thing for Netflix to fall short of Wall Street expectations, it's another matter entirely for Netflix to fall short of its own internal projections.
It wasn't until a 911 call came in a short time later , a woman driving in the area told police she hit someone on the highway. Michigan State Police says a 7-year-old girl was hit and killed while crossing I-94 in Romulus early Sunday morning.
The highlights continued under LeBron's watch, as Alex Caruso 's four-point play got King James pumped just before halftime. From that pool, a 12-man roster will be selected for the 2019 World Cup in China and 2020 Olympics in Tokyo.
Geological Survey said the lava was transforming into a fast-flowing river capable of covering roughly 200 yards per hour. The lava is from Hawaii's Kilauea volcano , which erupted in May and has been spewing out gas and molten rock ever since.
KaiOS iOS and Android might be the most popular mobile operating systems in the world, but do not tell that to India. It's not entirely surprising, given that Apple simply can't compete with many Android handset brands on pricing.
She was too exhausted to make his formula so she returned to breastfeeding, though she wasn't even sure that he had latched on. Another child in the house, aged two, is now in the care of his father and a preliminary hearing will take place on July 23.
Trump called the summit a "first step toward a brighter future and one toward a strong dialogue and a lot of thought". In his full statement, McCain said that " no prior president has ever abased himself more abjectly before a tyrant ".
She has confirmed that she is attracted to both men and women though she is not really bothered about labelling herself. However, sources close to the pair told People that the girls were just having fun and have a "flirty friendship".
The EU and Chinese officials met as China reported that its economic growth slowed a little in the three months ending in June. Exporters say American orders started to fall off as early as April as the war of words between Trump and Beijing intensified.
The film also stars Stephen Lang as Sully, Geno Segers as Diego, Mircea Monroe as Elena, and Ernie Reyes Jr as El Tigre. An nearly 15 minute long Uncharted fan film starring Fillion as Nathan Drake has been uploaded to YouTube.
However, she has told unhappy lawmakers that they needed to back her or risk there being no Brexit at all. Don't walk away from the negotiations. "'Don't walk away from negotiations because then you are stuck'".
It's believed von Westenholz, who is one of Harry's childhood friends, made a decision to set Meghan up with the royal soon after. Thomas told United Kingdom tabloid The Sun he thinks his daughter is "terrified" with her new royal duties.
Topics discussed included Syria, which Trump highlighted as an important area of possible cooperation in conjunction with Israel. Still, even Trump's political allies called him out for not pressing Putin hard enough on alleged election meddling.
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Forecast: Hot And Humid, With Thunderstorms For Tuesday
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Amazon's website crashes on annual Prime Day
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CVS apologizes after managers call cops on black customer
We have completed our investigation, and as a result the two colleagues who were involved are no longer employed by CVS Health . "So, THIS just happened: I had the police called on me for attempting to use a coupon at the CVS Pharmacy located at 6150 N.
Amazon Prime Day 2018: The best student deals in tech
It designed the day to replicate Black Friday for Amazon die-hards, but boasted more deals than the November shopping tradition. Dengler also recommended that consumers check CamelCamelCamel , an Amazon price-checker, to ensure they're getting a good deal.