Netflix added fewer paid subscribers than expected in the second quarter as the video streaming pioneer raised prices in some of its major markets, including Ireland, sending its shares down nearly 10 per cent in extended trading. “Our missed forecast was across all regions, but slightly more so in regions with price increases,” the company said in statement. Globally, the company added 2.7 million paid subscribers, compared with analysts’ estimate of 5.05 million. The company said it now expects to add seven million subscribers globally in the current quarter, compared with estimates of 6.5 million. Netflix stock is up 35 per cent so far this year, lagging only Facebook in the FAANG group.

Source: The Irish Times July 17, 2019 20:26 UTC