The American platform Netflix Inc announced today that in the last quarter it lost subscribers for the first time in more than ten years, while it estimated that it will follow a further contraction in the second quarter, as broadcast by Reuters.
In particular, the streaming giant announced that it lost 200,000 subscribers in the first quarter, losing the estimate it had made for another 2.5 million subscribers. The company’s decision in early March to suspend its services in Russia due to the invasion of Ukraine led to the loss of about 700,000 members.
The last time Netflix – which currently has about 221.6 million subscribers – announced that it had lost customers was in October 2011. At the same time, the company appeared pessimistic about the sequel, estimating that it would lose another 2 million subscribers. .
The company also reported first-quarter revenue up 10% to $ 7.87 billion, slightly losing Wall Street estimates to $ 7.93 billion. Earnings per share were $ 3.53 billion in the last quarter. Semester.
The company’s shares drop 18% in electronic transactions after the announcement of the results.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
