Netflix Stock Drops Again on Weak Subscriber Growth Outlook – The Hollywood Reporter

Stock in Netflix has fallen in value again after the video streaming giant missed on Wall Street forecasts for subscriber growth with its latest earnings report. On Monday, shares in Netflix fell by $10.35, or 2.6 percent, to $387.15, as it added to steep stock price falls since late last week when the global streamer fell short of Wall Street expectations for new subscriber additions. At midday, shares in the global streamer had tumbled to as low as $351.47 as the tech-heavy NASDAQ market fell by 5 percent at one point before a sharp recovery in late day trading. A day before its Jan. 20 earnings, Netflix traded at $508.16 at market close. Releasing its fourth quarter earnings on Jan. 20, Netflix reported 8.3 million new subscribers during its latest financial quarter, which missed on analysts expectations for 8.5 million in net subscriber growth. Heading into the first quarter of 2022, Netflix set a low forecast of 2.5 million subscriber adds in its latest company outlook. During an earnings call with reporters, Netflix CFO Spencer Neumann noted of the latest guidance: “It’s tough to say exactly why our acquisition hasn’t kind of recovered to pre-COVID levels. It’s probably a bit…
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