Connect with us

Hi, what are you looking for?

entertainment

Netflix stock fell 6% after it said subscriber numbers would decline

Netflix stock fell 6% after it said subscriber numbers would decline

Netflix plans to Eventually phase out reporting of subscriber data This move left investors a bit confused. Netflix shares fell by about 6.5% in trading on Friday morning, after the company Announced first quarter earnings Thursday. The decline came on the heels of Netflix's prediction that subscribers would decline during the second quarter, which the company blamed on “seasonality.”

Netflix CEO Greg Peters told investors during the company's earnings call on Thursday that since the company is “basically cutting off some viewers” even though it… Password sharing campaignhe is willing to “lose some viewership associated with that.”

But the streaming giant also said it plans to stop reporting subscriber growth numbers by the first quarter of 2025. This is despite adding another 9.33 million subscribers in the last quarter.

Netflix will instead focus on key metrics that are more important to the business, such as advertising and additional member features, Peters said.

More business news

Netflix doesn't want to talk about subscriber numbers anymore, but it just added over 9 million subscribers

Uber riders leave some wild things behind. Here are the 10 strangest – including a fart sensor

Amazon is offering retailers its own smart cart that it insists doesn't spy on people

See also  The union said the British were quick to approve the vaccine

Adidas' Yeezy Boost, Amazon's Smart Carts and New Starbucks Cups: Retail Roundup

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

Copyright © 2024 Campus Lately.