Netflix shares plunge on weak forecast and subscriber reporting halt plan
Netflix’s shares plunged the most in two years after a bleak revenue forecast and a plan to halt subscriber number reporting by 2025 overshadowed an otherwise strong quarter.
Netflix’s shares plunged the most in two years after a bleak revenue forecast and a plan to halt subscriber number reporting by 2025 overshadowed an otherwise strong quarter.
Netflix Inc. shares surged after the streaming giant reported its best quarter of growth since viewers were stuck at home in the early days of the pandemic.
Netflix CEO, Reed Hastings, has given up his title and associate Greg Peters is now named as co-chief of the company.
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It won’t be all rosy going forward. Netflix is still on pace for the slowest growth in years. The company lost 1.2 million customers during the first half of the year – a decline that led investors and peers to reconsider their streaming investments.
Netflix Inc. earlier this year saw a worrying signal in its data: Users were coming to the streaming service less often.
Netflix will charge $6.99 a month for its new ad-supported tier of service when it debuts next month, the company said Thursday.
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