970,000 customers cancelled their subscriptions in the second quarter, leading to an after-hours stock rebound of 7%. The market-leading streaming service now stands at 220.67 million worldwide subscribers and is projecting a global addition of 1 million new customers in the upcoming third quarter.
That positive guidance is a big reason why Wall Street is showing some renewed confidence in the stock. But this number is expected to fluctuate before the end of after hours Tuesday (we will update the stock’s status as needed).
Despite the positive outlook globally moving forward, Netflix still lost 1.3 million in the saturated United States and Canada (UCAN) market.
The company has now shed subs in the UCAN market in three of the last five quarters. At the same time, the Asia Pacific (APAC) region is Netflix’s biggest growth market with subscriber additions in five consecutive quarters, including 1.08 million adds in Q2.
Read more on thewrap.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.