Netflix Set To Lose $17-Billion, As Falling Short In Subscribers
Netflix stock had dropped by 11% in pre-market trading on Thursday. The drop comes after it revealed its first decrease in US supporters since 2011.
The paid subscribers of the company had reduced by 130,000 in second-quarter of the year. while The Wall Street Journal had predicted an addition of 309,240 subscribers.
The Wall Street Journal had expected $0.56 per share earnings of the company, and as much as $0.60 and revenue was expected to be $4.93 billion, but it dropped to $4.92 billion.
It’s high time for the company to plan a strategy to increase its subscribers.