Netflix share falls on the stock market and plumbs Wall Street

The New York Stock Exchange retreated slightly on the opening on Tuesday, cautious before an intervention by the President of the US Central Bank and weighted by the fall of the Netflix title: the Dow Jones lost 0.04% and the Nasdaq 0 , 69%.

Wall Street had finished in disarray on Monday as energy companies suffered from a drop in oil prices in a market however confident about the results of companies coming this week: the Dow Jones rose by 0.18% while the Nasdaq dropped 0.26%

Netflix: fewer subscribers than expected

The Netflix streaming video platform greatly disappointed the financial markets Monday in Gaining a lot fewer new subscribers than expected, unscrewing the stock market and the title, opening on Tuesday, was around 350 dollars, a fall of nearly 12%. It remains to be seen whether the share price will recover before closing.

Netflix thus garnered only 5.15 million new subscribers in the quarter, far from 6.2 million which he expected.

The rate of progression of subscriptions is the element most observed by the markets. The total number of subscribers is now 130 million worldwide while it counted on 131 million. Around 20:45 GMT, the stock dipped 14% to 344.28 dollars in electronic trading following the closing of Wall Street. "We had a strong second quarter but not excellent," the group acknowledged in its traditional "letter to shareholders" presenting its quarterly results.

In detail, he saw only 670,000 new subscribers arrive in the United States, against 1.2 million expected, and 4.47 million international against 5 expected. On the financial side, the quarterly net profit was multiplied by nearly 6, to 384 million dollars, well above its own expectations (358 million). Adjusted and reported by share, reference in North America, it comes out at 85 cents, above the expectations of badysts who expected on average 79 cents. Turnover, meanwhile, is in line with expectations, at $ 3.9 billion (+ 39%).