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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.

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