Netflix drops 14% after the decline in the number of subscriptions

The Netflix stock fell more than 14% on Monday after the publication of a disappointing growth in the number of subscriptions according to euronews.

Netflix said that it has gained 5.2 million subscribers in the three months to the end of June, the same figure as in the same period last year, but its forecast was 6.2 million. This drop comes after the success of the stock, which has almost doubled this year so far.

The company's shares ended trading on Monday at around $ 400, but fell 14% after the market closed, investors absorbing the company's quarterly results.

Investors worry about Netflix's growth potential in the face of increasing competition from tech giants such as Apple, YouTube and Amazon, as well as traditional companies that have begun to invest more in streaming line. Disney, for example, plans to launch its own content delivery service and stop licensing its content to Netflix, according to euronews.

The company said in a tweet on Twitter that the reality of growth in the second quarter did not meet expectations, but it is not a crisis and it is not worrying.

In a speech to investors, Netflix described its quarterly performance as strong but not excellent, with around 130 million subscribers worldwide.

The company attracted 670,000 subscribers in the United States alone, well below the number of subscribers in the second quarter of 2017 which exceeded one million subscribers.