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Netflix shares plunged last night after the first streaming TV service said that subscriber growth has been below expectations in the last quarter ended.
The number of members of the quarter increased from 5.2 million to a total of 130 million, the same period last year but one million less than what had been expected Netflix, according to a published letter with profit figures.
14% to $ 343.97 in the aftermarket market on Wall Street, in a setback to the television behemoth operating in some 190 markets worldwide.
"We had a strong Q2 (but not stellar)," said Netflix. "
" Profits, margins and revenues were all in line with expectations and up from the previous year, "she adds.
The Silicon Valley-based company says it is starting to "lead artistically." in some categories with its original content, earn enough Emmy nominations this year to break a 17-year-old sequence by HBO.
Netflix announced it had made a profit of $ 384 million on a $ 3.9 billion business turnover in the last quarter, compared with $ 66 billion in revenue at 2 , $ 8 billion last year. They said that after four consecutive quarters of overshooting their own forecasts and badysts' expectations on key metrics such as revenues, earnings and earnings of subscribers, Netflix was disappointed with a weak second quarter.
They said it was not entirely surprising given the growing competition in the video streaming market, where Amazon, Hulu, HBO and others are earning a share of the money. of the subscription video at the expense of Netflix.
Competition in the TV market continues to include YouTube, a platform under Google's umbrella, Alphabet, and Disney titan entertainment, with AT & T.
However, GBH Insights has seen the forecast Netflix subscriber miss as a "speed bump", rather than starting a downtrend, thinking that the "Content Weapon Race continues to be a major downwind" for the company. 39; company.
Netflix has spent billions of dollars on original content, supporting movies or creator shows from a range of countries and cultures as it seeks to become a global television service.
"Our international originals can be important for specific countries and regions and also play well outside their home markets."
Netflix added that while there is increasing attention in the traditional film industry on superheroes and sequels, on-demand service can cater to a wide variety of tastes.
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