Netflix Subscriber Growth Slows Amid Heightened Competition

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Netflix said subscriber growth slowed in the third quarter amid heightened competition. Shares fell 5% in after-hours trading.

Netflix Inc. said subscriber growth slowed in the third quarter, highlighting the fresh challenges the company faces from competitors ramping up their own streaming services as the coronavirus pandemic continues to disrupt the entertainment industry.

Netflix on Tuesday reported that it added 2.2 million subscribers in the quarter on a net basis, short of its forecast in July of 2.5 million new subscriptions for the period. The most recent gain is smaller than those Netflix reported for the first and second quarters, when it...

 

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