Netflix Inc.’s stock initially plunged in after-hours trading Tuesday, after the streaming giant posted weaker subscriber growth and forecast a smaller profit than Wall Street expected. But shares later recovered on company disclosures that its new ad-supported service is a success and its crackdown on shared accounts in the U.S. is coming this quarter.
For the second quarter, Netflix executives guided for earnings of $2.84 a share on $8.24 billion in revenue, while analysts on average were expecting earnings of $3.07 a share on sales of $8.18 billion. Netflix no longer provides guidance on subscriber additions, a sign its years of rapid growth are clearly cooling.
At the same time, they disclosed a password crackdown in the U.S. will occur in the second quarter, a bit later from previous expectations. Netflix’s rollout of the ad-supported tier could also have a temporary impact on margins: Netflix reported an operating margin of 21%, compared with about 25% in the year-ago quarter.
Source: News Formal (newsformal.com)
They said that 3 months ago.
It’s down 0.6%.
It was a funny example when some time ago was a company in US that was providing a service for bowling machines installation and it had gone for shares market and it was thriving until all bowlings finished. There's always an end.
hoteliercrypto
Too high n CAN'T share passwords 😭😭😭 oh well.
this is the correct take
20% earnings decline and 3.7% sales growth Is that bullish lol 😆 😂 $nflx
No password sharing and it’s still horrible number
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