SAN FRANCISCO: Netflix shares dived on Thursday after the leading streaming entertainment service reported relatively flat quarterly profits despite rising subscriber numbers. “Streaming growth is seeing a bonanza in this COVID environment,” Ives said. Pandemic-related restrictions have sped up a lifestyle shift from traditional television to streaming shows online, according to eMarketer forecasting analyst Eric Haggstrom. “TikTok’s growth is astounding, showing the fluidity of internet entertainment,” Netflix said in the letter. Peters said in a video interview Thursday he foresees future growth coming from outside the United States.

Source: Manila Times July 17, 2020 16:30 UTC