Dade Hayes Finance EditorNetflix shares stumbled out of the gate Friday, slipping nearly 8% as investors reacted to the company’s forecast for much slower subscriber growth in the second half of 2020.The downturn, which left the stock at about $485 in morning trading, comes after the company reported strong second-quarter earnings Thursday and a gain of 10.1 million subscribers in the period.
While the results themselves won raves, the company’s prediction that it would add just 2.5 million subscribers in the third quarter rattled the markets and sent shares down 10% after hours.Propelled by stay-at-home measures during COVID-19, Netflix has now reached almost 193 million subscribers worldwide.
Read more on deadline.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.